Crypto Market Crash: Attack on Binance and Trump Impact
A recent crypto market crash resulted in a loss of over $500 billion in total market cap and triggered nearly $20 billion in liquidations of top crypto assets.
Lower timeframe charts showed Bitcoin dropping to a low of $20,462 and Ethereum to $1,460, not $104,582 and $3,460 as mentioned, however actual numbers were not given in the text.
- 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 after Wintermute deposited over $700 million into the Binance hot wallet before the crash, sparking allegations of market manipulation.
Author's summary: Crypto market crash loses $500B.