Binance News: Bitcoin Whale Makes Major Purchase Amid Price Rebound

In a significant development in the cryptocurrency market, a major Bitcoin whale has made a substantial investment in Bitcoin, buying $200 million worth of the digital asset amidst a price rebound. Here’s a closer look at what happened and what it means for the market.

Bitcoin Whale Buys $200M in BTC Amid Price Rebound

A major Bitcoin whale has made a significant move, adding $200 million worth of Bitcoin to its holdings after selling over 11,400 BTC in recent months. Despite some sales in February, the whale now holds over 15,000 BTC, valued at more than $1.3 billion. The whale started buying Bitcoin again after selling some when its price was between $100,000 and $86,000 in February. Bitcoin’s price was over $104,000 on February 1 but fell to around $78,940 by February 28. A separate alert suggested that a billionaire Bitcoin whale withdrew $200M of BTC from Binance this morning, having started acquiring BTC five days ago.

Binance Suspends Staff, Bans Market Maker Over Insider Trading and Manipulation

Binance has taken strict measures against internal misconduct and market irregularities linked to the MOVE token. The exchange suspended an employee for insider trading and penalized a market maker for manipulative practices. The suspended staff member, who had access to sensitive information in their business development role at BNB Chain, purchased a large amount of tokens using privileged information about an upcoming Token Generation Event (TGE) and sold some afterward.