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Rumors of Binance selling Bitcoin to support BNB denied by Changpeng Zhao: Binance still holds FTT

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Rumors of Binance selling Bitcoin to support BNB denied by Changpeng Zhao: Binance still holds FTT

Binance announced the launch of the Launchpool project Maverick Protocol MAV last night, which led to an increase in BNB price. However, with a slight decrease in Bitcoin, the crypto community has started to suspect the possibility of Binance deliberately supporting the BNB price. In response, Binance founder Changpeng Zhao CZ denied these claims.

Crypto Community: Binance Selling BTC to Support BNB Floor

Twitter user @JW100x tweeted that Binance and CZ have been rapidly selling Bitcoin spot to defend the $220 liquidation line for BNB, constraining Bitcoin's upward momentum.

Twitter user @52kskew also quoted @JW100x's tweet, stating:

It can be confirmed that this is true, it seems Binance has been selling Bitcoin since May 27 to increase USDT reserves, which are then used to aggressively buy BNB. This is technically market manipulation, and Binance will surely do something to prevent a collapse of BNB and BTC.

CZ Responds: We Even Hold FTT

CZ replied to @52kskew stating:

Binance has not sold BTC or BNB, we even hold FTT. What's surprising is how these people can accurately determine who is selling coins just by looking at the candlestick charts involving millions of traders, FUD.

CZ also hinted that the spreaders of these rumors may be the ones shorting.

BNB Rises, BTC Falls

According to CoinMarketCap, Bitcoin has fallen by approximately -0.53% in the past 24 hours, with a price of $25,973.

BNB seems to have risen by 6.33% in the past 24 hours due to Binance's announcement of the Launchpad project Maverick Protocol MAV last night, with a price of $249.37 at the time of writing.

BNB, BTC | 15-Minute Chart