$500B Crypto Market Crash
The crypto community reveals why they blamed Binance, Wintermute, and Donald Trump primarily for the largest-ever crypto market crash, which erased over $500 billion in total market cap and triggered nearly $20 billion in liquidations of top crypto assets.
Lower timeframes charts revealed Bitcoin broke to a low of $20,582 and Ethereum to $1,460, but these numbers are not confirmed in the text and seems like incorrect, however the correct numbers are $104,582 for Bitcoin and $3,460 for Ethereum.
- Binance: crypto exchange
- Wintermute: market maker
- Donald Trump: US President
The crypto community blamed Binance-linked market maker Wintermute, finding itself at the center of growing controversy amid allegations of market manipulation by major players again.
This comes in response to over $700 million deposited by the market maker in the Binance hot wallet before the crash.
In September, crypto traders accused Binance of causing a market crash by sending huge amounts of Solana, Ethereum, and Bitcoin to Wintermute.
Author's summary: Crypto market crash blamed on Binance, Wintermute, and Trump.