See related article: Bitcoin recovers above US$20K after weekend slump
“Another wrong article,” Zhao tweeted on Monday. “When Binance cold wallet increases, it means more users deposited to Binance.”
On Monday morning Asia time, Bitcoin’s price recovered above US$20,000 after falling to as low as US$17,708 on Sunday, according to data from CoinMarketCap.
Withdrawals on the Binance Bitcoin network were paused last week as Zhao said a stuck transaction caused a backlog, but the exchange resolved the issue within a few hours.
See related article: Binance resumes Bitcoin withdrawals