Binance Not Selling Ethereum, Solana
Binance refuted claims of market manipulation following traders’ accusations that the exchange sold millions of Ethereum (ETH) and Solana (SOL) tokens via market maker Wintermute.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
The charges started when the on-chain data analytics company Arkham Intelligence revealed significant transfers from Binance’s hot wallet in a report released on February 24.
A sell-off was allegedly stoked after the Binance-linked wallets moved at least 103,570 SOL (worth $16.3 million) and 25,000 ETH (worth $80 million) to Wintermute.
Binance refuted accusations that it was “dumping on everyone.” in a recent post about a trader’s concerns from its Customer Support account.
Several traders had misunderstood the transactions, Binance explained, stressing that the exchange only matches trades and has no control over user trading decisions, including market makers’. By cautioning against fear, uncertainty, and doubt (FUD) tactics, the exchange advised users not to draw hasty conclusions from transaction screenshots.
Additionally, the platform urged users to grasp the workings of market makers, pointing out that companies such as Wintermute are essential to supplying liquidity and preserving market stability. Importantly, analysts refuted the rumors, stating that the transactions showed that Wintermute had removed SOL from Binance rather than Binance having sold the assets.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker