Cryptocurrency exchange Binance moved a whopping $1.26 billion worth of bitcoin on Wednesday (May 29).
“We will be moving some funds between our cold wallets. A tell-tale sign of a new cold wallet on Binance is two small transfers from and BACK TO an existing wallet, then a large transaction. No need to be alarmed. Funds are #SAFU,” tweeted Binance CEO Changpeng Zhao, according to Hard Fork.
Although a large amount to transfer, the exchange paid only $124.60 in network fees for the service.
In other Binance news, the company announced an agreement with crypto lending platform Cred to promote the decentralization of finance. As part of the deal, Cred will move some of its ERC20 LBA tokens to the Binance Chain, as well as become the official lending and borrowing platform for the DeFi ecosystem.
“We are delighted to be working with Cred to help scale their efforts to more markets and users around the world through the power of the Binance Chain, which has a one-second block time and will ensure transactions and interactions by Cred's users will be fast, efficient and effortless,” Ted Lin, chief growth officer of Binance, said in a press release.
“The Lightning Platform has long served millions of enterprise developers building the apps that underpin today’s connected experiences,” Ryan Ellis, SVP of product management at Salesforce, said in a press release. “With Lightning Web Components now open-sourced, we’re empowering the community to build standards-based applications on any platform, and inviting them to help us define what the future of enterprise software looks like."
And the president of Bundesbank is warning that central banks need to be careful when launching digital currencies that could lead to destabilization during a crisis.
Jens Weidmann said on Wednesday (May 29) that giving consumers easy access to digital currencies could exacerbate bank runs in times of crises, as well as increase volatility.