Analyst reveals shocking details behind crypto crash
A crypto analyst, who posts on the X handle @MerlijnTrader, accused the world’s largest crypto exchange by trading volume, Binance, of engineering the shocking crypto market crash on Oct. 10.
“Binance didn’t just witness the crash, they engineered it.”
The market maker Wintermute transferred $700 million, mostly in Bitcoin, to Binance before the dump and next, liquidation velocity hit max speed at the price point of $108,000, claimed @MerlijnTrader.
Related: What is Crypto? Cryptocurrency explained
Buttons froze and stop orders failed on Binance but liquidations got executed perfectly, they further claimed.
As reported earlier, Binance acknowledged severe strain on its platform and said some users may…
