Is Binance Manipulating the Market? $20M Transfers to Wintermute Spark Debate
The post Is Binance Manipulating the Market? $20M Transfers to Wintermute Spark Debate appeared first on Coinpedia Fintech News
Binance, the world’s largest cryptocurrency exchange, is facing criticism for transferring approximately $20 million worth of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) to Wintermute, a major market maker. These controversial transfers have ignited fears of market manipulation and unfair practices, leaving the community eager for answers.
Binance’s $20 Million Transfer Raises QuestionsAccording to the on-chain analytics platform Arkham, Binance transferred 70.9 BTC (valued at $7.2 million) and 1,701 ETH (worth $5.38 million) to Wintermute on Monday. The next day, the exchange moved 20,973 SOL (valued at $4.9 million) along with 1,000 ETH (worth $3.17 million).
These transactions have been flagged as potential attempts to control market prices by creating artificial liquidity.
Shortly after the Wintermute transfers, Whale Alert noticed another big transaction. An unknown wallet sent 18,107 ETH, worth $57.8 million, to Binance. This added to the speculation about whale strategies and their effect on the market.
