Binance Faces Allegations of Market Games as Solana Nears BNB
The post Binance Faces Allegations of Market Games as Solana Nears BNB appeared on BitcoinEthereumNews.com.
New allegations surfaced, claiming Binance is deliberately holding back Solana’s momentum to protect the BNB token, throwing the crypto market into controversy. It adds to the list of times the largest exchange on trading volume metrics has been accused of using Wintermute market maker to influence prices. Is Binance Secretly Holding Back Solana in Favor of BNB? Analyst Marty Party sparked the debate on X (Twitter), alleging that Binance has been working with market maker Wintermute to prevent Solana’s market capitalization from surpassing BNB. He shared what he called “receipts,” questioning how the Binance exchange could be sourcing SOL for trading activity when its proof of reserves (PoR) shows no Solana holdings beyond customer deposits. Market Maker Update: @binance wont allow @solana to pass $BNB marketcap so they suppress it using @wintermute_t here are the receipts. 1 hr ago. Where are they getting this $SOL @CarolineDPham @SECPaulSAtkins when their proof of reserves says they have no $SOL other than… pic.twitter.com/uPMYB595Hu — MartyParty (@martypartymusic) August 24, 2025 As of the time of this writing, Solana was trading at $203 with a market cap of $109.7 billion, just behind BNB’s $865.97 price and $120.6 billion capitalization. Indeed, Binance’s proof of reserves shows no Solana holdings beyond customer deposits of 22.433 million SOL tokens. The holdings comprise 22.013 million in exchange balance and 420.35 in third-party custody. Binance proof of reserves. Source: Binance Meanwhile, this is not the first time Binance and Wintermute have been tied together in market controversy. Five months ago, reports suggested Wintermute was involved in coordinated sell-offs that tanked smaller tokens such as ACT. Binance was also allegedly linked to the activity. Similarly, seven months ago, Binance also faced scrutiny over $20 million worth of crypto transactions tied to Wintermute. BeInCrypto reported that this sparked heated debates about opaque…
Filed under: News - @ August 24, 2025 11:14 pm