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‘Huge BTC Transaction Part of POR Audit,’ Claims Binance CEO

Published 2022-11-29, 10:44 a/m
© Reuters. ‘Huge BTC Transaction Part of POR Audit,’ Claims Binance CEO

  • Changpeng Zhao announced that the transfer of BTC worth $2 billion was a part of the Proof-of-Reserve Audit.
  • The fund was apparently transferred under an auditor’s request to show that the wallet is under the company’s hold.
  • Zhao added that the fund is safe and is transferred to another account under the control of the company.

After the significant flow of more than 127,000 BTC in a single transaction, Binance CEO Changpeng Zhao clarified that the company transferred the fund under the requirement of an individual auditor to prove the company has control over the wallet.

Zhao tweeted that the transaction was just a part of the Proof-of-Reserve Audit:

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