Binance Responds to Market Manipulation Claims After Solana and Ethereum Transfers

Binance has denied allegations of market manipulation following accusations by traders that the exchange sold millions of Solana (SOL) and Ethereum (ETH) tokens through market maker Wintermute. The claims arose after on-chain data analytics platform Arkham Intelligence published a report on February 24th, revealing large transfers from Binance’s hot wallet. This sparked speculation about a potential sell-off by Binance. However, Binance has clarified that it only facilitates trades and has no control over user decisions, including those made by market makers like Wintermute.