On August 20, 2025, data from on-chain trackers and alerts shared on Twitter revealed that Binance transferred significant amounts of Ethereum (ETH) and Solana (SOL) to the market maker Wintermute. The timing of the transfers led to widespread accusations of market manipulation, with claims that the exchange aimed to trigger liquidations and protect its own interests. (Twitter/@rektfencer)
ETH transfers under scrutiny
Throughout the day, Binance hot wallets sent multiple batches of ETH ranging from a few hundred to several thousand coins directly to Wintermute addresses. In total, over 8,000 ETH were moved, valued at nearly $12 million. Analysts noted that these flows coincided with volatile swings in the ETH price, reinforcing fears of deliberate downward pressure. (Twitter/@rektfencer)
SOL also on the move
Alongside Ethereum, large amounts of Solana (SOL) were also transferred. Screenshots from trackers show thousands of SOL being sent from Binance to Wintermute-controlled wallets within hours. This mirrored previous weeks’ events, where 110,000 SOL had already been flagged moving to Wintermute in early August. Critics argue the pattern suggests a systematic strategy of liquidity control. (Twitter/@rektfencer)
Market reaction and ongoing debate
Community reaction was immediate. Traders accused Binance of using Wintermute to “dump” tokens and liquidate long positions, calling it “pure manipulation.” The episode reignited concerns about Proof of Reserves, since Binance’s latest PoR reports showed no ETH or SOL beyond customer deposits. The absence of excess reserves raises questions about the source and intent of these transfers. (Twitter/@rektfencer)
Fontes : Twitter/@rektfencer
