• Binance and Wintermute faced scrutiny over forced sell-off claims.
• Global market cap surged by 3.20% as BTC and ETH recorded gains.

2025 is proving to be a turbulent year for the crypto market, marked by two major crashes—one triggered by the launch of DeepSeek and the other by an escalating tariff war.

The sharp downturn has also fueled speculation about market manipulation, with industry giants facing scrutiny.

For those unaware, the crypto market faced a staggering $2.24 billion in liquidations within 24 hours on the 3rd of February.

This was after an executive order by U.S. President Donald Trump imposing import tariffs on China, Canada, and Mexico. 

Wintermute CEO stands in defense

However, Wintermute’s founder Evgeny Gaevoy defied these claims stating that cryptocurrency was liquidated due to traditional finance (TradFi) events, and not industry participants.

He said, 

“Understanding that our little crypto market is now very directly linked to the real world outside […] is pretty essential to being a (more) successful trader. But sure, you can ignore this information and choose to believe in a Wintermute + Binance conspiracy.”

Is Marty Party adding fuel to the fire?

Crypto sleuth Marty Party has also raised alarms over potential market manipulation, alleging that Binance is funneling substantial funds into

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Author: Ishika Kumari

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