Binance denies rumours of “dumping” Solana and other tokens
The post Binance denies rumours of “dumping” Solana and other tokens appeared on BitcoinEthereumNews.com.
Binance, the world’s largest crypto exchange, has refuted claims that it has been dumping some Solana in the wake of the latest market downturn. The rumours emanated from users who saw Arkham Intelligence’s report on February 24 that showed Binance transferred roughly 103,570 SOL and 25,000 ETH to the market maker Wintermute. The transactions from Binance also coincided with a significant market crash on February 25, which fuelled FUD among investors. Crypto analysts like Marty Party and Jacob King alleged that the cryptocurrency exchange was selling off its Solana and Ethereum holdings for various reasons. The digital asset exchange argued that its market surveillance program, designed to detect and prevent market manipulation, ensured a fair trading environment for all users. The firm also maintained there was no conclusive evidence to support the claims, and the rumours seemed to stem from misinterpretation of the data. Binance refutes rumours of selling Solana amid market crash JUST IN: #Binance denies claims of dumping $ETH and $SOL on Wintermute. pic.twitter.com/J1ZGsAbImz — MrRebel.eth (@rebelethpromos) February 27, 2025 Crypto analyst Marty Party had alleged that Binance was dumping its Solana for various reasons. Founder and CEO of Whale Wire, Jacob King, also referred to transaction receipts from Binance and alleged that the firm was mass dumping Ethereum. The rumours were also fueled by the February 25 market crash, which saw Bitcoin plummet below $90,000, leading to over $1 billion in liquidations. Binance addressed the speculation on February 26 and denied the rumours on social media of selling Solana and Ethereum holdings. The crypto exchange argued that it only functions as a marketplace that facilitates transactions, with no control over users’ trading decisions, including those of market makers. “Binance hasn’t dumped or sold large amounts of tokens as some tweets have misunderstood. As an exchange, we simply…
Filed under: News - @ February 28, 2025 7:25 pm