Ethereum

Solana

Bitcoin

Binance is facing renewed scrutiny after crypto analyst MartyParty accused the exchange of manipulating Solana’s (SOL) price through long-term coordination with market maker Wintermute.&nbsp;
In a post shared on X, MartyParty alleged that Binance has been transferring tens of thousands of SOL to Wintermute daily for over two years to suppress prices and extract liquidity from leveraged traders.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet">
 Be aware <a href="https://twitter.com/KyleSamani?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@KyleSamani</a> <a href="https://twitter.com/SECPaulSAtkins?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SECPaulSAtkins</a> <a href="https://twitter.com/aeyakovenko?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@aeyakovenko</a> <a href="https://twitter.com/CarolineDPham?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CarolineDPham</a> – <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Binance</a> and <a href="https://twitter.com/Bybit_Official?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Bybit_Official</a> have been actively manipulating <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@solana</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> price using offshore market maker <a href="https://twitter.com/wintermute_t?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@wintermute_t</a> for over 2 years. Ive collected all on chain evidence and comprehensive records. I am not a… <a href="https://t.co/bL8pcVU72N" rel="noopener noreferrer nofollow">pic.twitter.com/bL8pcVU72N</a>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1975942944365433199?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 8, 2025</a>
 </blockquote>
 </div>
</figure>
According to MartyParty, Binance’s own proof-of-reserves shows no SOL holdings beyond customer deposits, raising concerns about how the exchange could execute such transfers. “They have no $SOL of their own, yet keep sending it to Wintermute. This is clear evidence of coordinated manipulation,” he wrote, urging U.S. regulators to investigate given Solana’s growing role in blockchain-based financial infrastructure.&nbsp;
The claims have sparked a debate across the crypto community, with some users calling for an independent audit of Binance’s asset movements. Critics note that without clear rules, Binance’s tactics, ethical or not, remain technically legal in today’s unregulated market.
<h2 class="wp-block-heading" id="broader-pattern-of-market-manipulation-claims">Broader pattern of market manipulation claims</h2>
The Solana allegations follow <a href="https://www.cryptotimes.io/2025/09/23/binance-accused-of-market-manipulation-post-massive-btc-and-eth-sales/" target="_blank" rel="noopener noreferrer nofollow">similar accusations last month</a> that Binance sold massive amounts of Bitcoin (BTC) and Ethereum (ETH) during key market swings. Analysts observed the exchange building up over $2 billion in stablecoin reserves while BTC and ETH prices fell sharply, a move that some interpreted as calculated market pressure.
Traders also pointed to timing correlations between Binance CEO Changpeng “CZ” Zhao’s social media <a href="https://x.com/cz_binance/status/1969750793529303122?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1969750793529303122%7Ctwgr%5E0d2e331d204f5e16fe93158a060349a681f51348%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptotimes.io%2F2025%2F09%2F23%2Fbinance-accused-of-market-manipulation-post-massive-btc-and-eth-sales%2F" target="_blank" rel="noopener noreferrer nofollow">posts</a> and abrupt price movements, suggesting potential signaling behavior. “Every time CZ says ‘buy the dip,’ the market spikes. Every time he hints at a bull run, it tanks,” one analyst commented, calling the pattern “too consistent to ignore.”
Together, the accusations paint a picture of growing distrust in Binance’s trading activity. The exchange’s influence across asset pairs, from Solana to Bitcoin, has prompted fresh calls for tighter transparency requirements.&nbsp;
As U.S. and EU regulators tighten scrutiny, Binance faces accusations that go beyond isolated incidents, suggesting a deeper pattern of market control across crypto.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also read: <a href="https://www.cryptotimes.io/2025/10/09/binance-wallet-launches-exclusive-meme-rush-platform/" target="_blank" rel="noopener noreferrer nofollow">Binance Wallet Launches Exclusive Meme Rush Platform</a>
</blockquote>

Binance and Wintermute Faces Allegations of Solana Price Manipulation

Table of Contents

The Crypto Times

Other articles published on Oct 9, 2025

Join our free newsletter for daily crypto updates!