Binance Under Fire Amid Market Crash Anomalies

A chaotic cryptocurrency market crash triggered by a shock announcement from Washington regarding tariffs on China saw over $200 billion wiped out in just a few hours. But amidst the volatility, Binance’s behavior has sparked intense scrutiny and accusations of manipulation. Users report freezing accounts during this critical moment of panic selling, blocking trading orders, and exhibiting anomalous pricing anomalies on platforms like Enjin (ENJ) and Cosmos (ATOM), potentially hindering traders during a chaotic market shift. While Binance claims to have encountered technical difficulties, users are questioning the platform’s transparency and its handling of user funds. This is not the first time Binance has faced accusations of manipulation after another major market crash earlier this year saw similar allegations of freezing orders. While other platforms like Coinbase or Robinhood also experienced technical slowdowns during the same event, it is Binance that continues to attract significant criticism for its role in the market and lack of communication with users. This latest incident further underscores the need for greater transparency and clarity within the cryptocurrency industry as players face intense pressure from rapidly shifting markets.