Binance Officially Denies Mass Selling of Solana and Other Tokens... "Simply a Misunderstanding"
Summary
- Binance officially denied rumors of mass selling assets including Solana (SOL).
- Binance emphasized that the recent large withdrawal of Solana by market makers is unrelated to any selling by the company.
- Binance stated that it is simply a trading intermediary and does not determine the movement of users' assets.
Global cryptocurrency exchange Binance has officially denied rumors that it is selling large amounts of assets, including Solana (SOL).
According to cryptocurrency media Cointelegraph on the 28th, a Binance spokesperson stated, "Binance has not dumped or sold large amounts of tokens as some tweets claim," adding that "this claim stems from a misunderstanding of Binance's role."
Binance clarified that the recent large withdrawal of Solana by market makers is unrelated to any selling by Binance. The spokesperson emphasized, "We are simply intermediaries matching trades, and we do not determine the movement of users' assets."
The spokesperson further explained, "Some investors are suspicious of Binance selling based on large withdrawals of Solana (SOL) from Binance hot wallets, but market makers move assets according to their own strategies, and we are not involved in their decision-making."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
