Binance News: Wintermute Sell-Off Sparks Market Turmoil, Binance Blamed for Leverage Limit Changes

In a significant development in the cryptocurrency market, Wintermute’s decision to sell off large quantities of BNB meme coins has led to significant market turmoil. Community sleuths have pointed fingers at Binance, accusing the exchange of quietly lowering the leverage position limit for ACT and other tokens, which triggered a sharp price drop and millions of dollars in losses.

Wintermute’s Sell-Off Tanks ACT and Other Meme Coins, Binance Allegedly Involved

A chaotic incident is unfolding in the meme coin sector, with Wintermute, a market maker, selling off large quantities of BNB meme coins, especially ACT. Community sleuths believe Binance is to blame, quietly lowering the leverage position limit for ACT and other tokens. This caused the price of ACT to fall by 50%, triggering a stampede in other BNB meme coins and erasing millions of dollars from the market.

$ACT Tumbles 50% Amid Whale Liquidation on Binance

A whale liquidation event has recently caused significant turmoil in the crypto market. Binance, a prominent crypto exchange, modified the margin and leverage tiers for several tokens, including $ACT. This update led to a whale being liquidated for $3.79M at $0.1877. Consequently, the price of $ACT has plunged by more than 50% since the incident.