Crypto exchanges use
#marketmakers — companies that provide
#liquidity for trading pairs.
#Binance, for instance, works with
#Wintermute, a firm often suspected of orchestrating
#marketmanipulation (something frequently mentioned on
#Twitter).
What happened yesterday, in my view, was that the
#marketmakers turned off their
#liquiditybots. As a result,
#altcoins were left without buy orders, while
#stoplosses were triggered — and, “coincidentally,”
#Binance froze, preventing anyone from buying. Those buy orders would have helped absorb the sell pressure and provided liquidity during the drop.
To me, it all seems highly coordinated — especially considering that just moments before,
#Wintermute transferred $700M to
#Binance 👀
Now, let’s be real:
Do you really think
#Binance doesn’t have the technology to handle a crash like that without freezing?
No other major exchange went down.
So the real question is —
#WhyDidBinanceFreeze? 🐷