Crypto analyst Marty Party pointed out these transactions, accusing Binance and Wintermute of market manipulation. He called investors to stay calm and consider self-custody of their assets. According to blockchain data, Binance sent 70.9 BTC ($7.2 million) and 1,701 ETH ($5.38 million) to Wintermute on Monday. The next day, they transferred 20,973 SOL ($4.9 million) and another 1,000 ETH ($3.17 million).
Critics, including analyst Cryptoblock192.eth, claim Wintermute’s operations harm decentralization and transparency. They compared these activities to controversies surrounding FTX and Alameda Research, known for price manipulation allegations.
The crypto community is calling for greater transparency from Binance and other exchanges. Some, on social media, pointed out that closer oversight is required, with close ties between exchanges and market makers creating an uneven playing field for larger players.
Meanwhile, blockchain tracker Whale Alert reported another major transfer of 18,107 ETH ($57.8 million) to Binance from an unknown wallet, adding to the speculation over whale strategies.
Both Binance and Wintermute have yet to address these accusations, leaving the community demanding answers and clearer practices in market-making activities.
