5,000 BTC Withdrawn From Binance In Just One Minute! What Happened?

<p>&nbsp;"Hey, why is this, I don't know, he's the only one who wants to make investors afraid."</p><p><br /></p><p>While crypto markets are in a volatile state, Binance saw 5,000 BTC being withdrawn in just one minute, leading Chief Executive Officer (CEO) Changpeng Zhao (CZ) to label the incident as a FUD tactic.</p><p><br /></p><p>Not only that, Binance also revealed that there was a BTC withdrawal from August 17, 2023 until August 22, so here it can be seen that 14,460 BTC by August 22, 2023 had come out of the crypto exchange's reserves.</p><p><br /></p><p>It is well known that less than 2.27 million BTC remain in the wallet of an unknown exchange, so the following transition shows that holders who prioritize the security of private wallets are reluctant to sell their holdings in the near future.</p><p><br /></p><p><br /></p><p>The BTC/TUSD trading pair is likely to experience significant changes following Binance's zero-fee BTC trading model to be implemented on September 7, 2023 while maker fees will hold zero status, where taker-fees now depend on the user's VIP level.</p><p><br /></p><p>Following Binance phasing out BUSD support in favor of TUSD, the decline in Tether (USDT) volume became noticeable as many traders and investors saw the move as an important sign that the crypto market was under pressure.</p><p><br /></p><p>That streak, the crypto market which is currently undergoing several changes is worth noting as the landscape is evolving with changes in the trading fee structure including the release of large amounts of BTC.</p><p><br /></p><p>As such, crypto market players and enthusiasts will be watching closely in anticipation of the next significant change.</p><p><br /></p><p>As of this writing, BTC price has plunged by 0.87% to $26,127 in the last 24 hours with a market capitalization of $508 billion further recording a 1.68% decline over the last week.</p>