Social media that rebutted Binance claims it offloads its holdings of Ethereum (ETH) and Solana (SOL).
On February 26, Binance's customer support team worked on X (formerly Twitter) speculation and said the exchange was not engaged in massive token sales.
The company has revealed that it has no control over the transaction decisions of users, including market makers, and will only serve as a market that promotes transactions.
The exchange explained that while some market participants move assets as part of their trading strategy, Binance is not engaged in dumping tokens.
Binance said:
“Binance is not “dumping” or “selling” large quantities of tokens because some tweets are misunderstood. As an exchange, we only help users to match the transaction, and there is no visibility into user decisions, such as market makers who may move assets according to their strategy. ”
With this in mind, Binance advised users to draw conclusions based on transaction screenshots. It highlighted the importance of recognizing trading strategies that could be misunderstood as market manipulation.
Conclusion:
“Blockchain transparency is one of the best things about crypto, but it's important not to jump to conclusions about transaction screenshots. We learn to recognize FUD, and we encourage our community to learn more about what market makers are doing.”
rumor
Over the past few days, crypto influencers with large following, including Marty Party and Jacob King, have argued that Vinanence is dumping Solana and Ethereum for a variety of reasons.
During the period, blockchain data From Arkham Intelligence, the company has announced that it has made significant transactions of over 100,000 SOL ($1,632 million) and 25,000 ETH ($80 million) against WinterMute.
This led to the accusations that the exchange could be involved in price manipulation and sales of assets could have sold assets to cover a $4.3 billion settlement with the U.S. Department of Justice (DOJ).
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