Is Binance Dumping Crypto Tokens? Fact Check 

Binance laminitis Changpeng Zhao (CZ), precocious advised investors to clasp their assets during marketplace downturns. While CZ has been loved by the crypto assemblage his station connected X, antecedently Twitter, is getting vigor from galore users.

In the remark section, galore users accused Binance of hypocrisy, alleging that the speech itself has been offloading tokens portion advising others not to sell. Social media is flooded with reactions from traders who judge Binance is contributing to the marketplace downturn. 

User Comment connected Binance Dumping Crypto, Source: X

One idiosyncratic commented, “Stop dumping everything then, you scammer,” portion different wrote, “Damn you, CZ! You scammed us—my savings are gone due to the fact that of you.”

User Comment connected Binance Dumping Crypto, Source: X

Binance’s lawsuit enactment rapidly responded to these claims, stating, “Binance hasn’t ‘dumped’ oregon ‘sold’ ample amounts of tokens arsenic immoderate tweets person misunderstood. As an exchange, we simply assistance users lucifer trades and person nary visibility into our users’ decisions, including marketplace makers who whitethorn determination their assets according to their strategies.”

The institution insists that blockchain transactions showing ample money movements bash not needfully bespeak Binance selling. Instead, they assertion these are idiosyncratic withdrawals, peculiarly by organization players and marketplace makers utilizing Binance arsenic a custodian oregon different services.

These accusations were not new. Back successful February, Binance was accused with dumping BTC, ETH, and SOL for the purposes of marketplace manipulation 

Binance accused of dumping BTC, ETH, and SOL, Source: X

The claims stemmed from ample token transfers observed on-chain, but Binance denied immoderate involvement, stating that the movements were user-driven, not exchange-led selling. However, reports aboriginal clarified that Wintermute, a large marketplace maker, initiated these transactions portion reallocating funds, not Binance itself.

The market’s downturn has lone added substance to these suspicions. During periods of fear, uncertainty, and uncertainty (FUD), traders often look for scapegoats, and Binance—being the world’s largest exchange—is an casual target.

In reality, galore of these transactions are apt ample withdrawals by whales alternatively than Binance itself liquidating tokens.

Also Read: Fact Check: Did Binance Rating connected Google Really Drop to 1.5?