Binance is accused of blocking Solana’s growth to protect BNB, sparking controversy, regulatory attention, and debate in the crypto community.
Binance, the world’s biggest crypto exchange, is under fire again. New claims say it is blocking Solana’s rise to protect its own token, BNB. This has stirred up a big debate in the crypto world. The accusations came from analyst Marty Party on the X platform. He continues that Binance is collaborating with the market maker, Wintermute, to prevent the market cap of Solana from surpassing that of BNB. Individuals fear that this would be unjust to investors.
Solana Nears BNB Market Cap, Stirs Controversy
First of all, Solana has been rapidly expanding. As of now, it is going at 203 dollars per coin. It has a market capitalization of 109.7 billion. This makes it near BNB, which is trading at $865.97 per coin and has a total market cap of 120.6 billion. Solana is viewed as a challenge to the dominance of BNB. Binance, the developer of BNB, may wish to maintain its token in advance.
Then Marty Party presented the evidence on the X account. He cited the proof of reserves of Binance. This report indicates Binance does not have any additional Solana in the customer deposits. It holds a total of 22.433 million SOL tokens. This comprises 22.013 million as in exchange balance and 420.35 million in the custody of third parties. People wonder how Binance can have any effect on the prices when it is not holding additional Solana. This begs the question of where the Solana to trade comes in.
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What is more, Wintermute is in the center of the claims. This market maker assists to keep crypto markets liquid Analysts believe that Binance can be selling a lot of Solana using Wintermute. This may depress its price and save BNB. Wintermute did $300 million in trades this month. Its role aggravates the accusations.
Solana Suffers Setbacks Amid Ongoing Binance Controversy
Additionally, this is not the first time Binance has faced such criticism. Past reports linked it to market manipulation with Wintermute. For example, smaller tokens fell in value after similar actions earlier this year. The trend is a concern to the crypto community. There is a call by some for stricter regulations to prevent these activities.
In the interim, Solana has had its problems. In July 2025, a 17-hour outage occurred on the network. This led to people distrusting it. However, its price continues to increase. It is still viewed as a forceful player by investors. The strains with Binance increase the doubt.
Summing up, the allegations against Binance are escalating. The outrage that accompanied the claims by Marty Party has been witnessed online. Citizens want explanations of Solana and BNB. The entry of the regulators may alter the way exchanges are run. The crypto market is also keen on the development of this story. At this time, the debate rages on, and the future of Solana remains unknown.
