DWF has emerged from the recent controversy, promptly and emphatically dismissing allegations made in Singapore2049 by Wintemute concerning the former’s participation in crypto market manipulation.
Wintermute’s recent comments stoke the fire in the ongoing feud between the two top players in crypto markets, who have been in lock horns in the past, with the latter accusing the former of constantly exploiting the media to disseminate false information.
DWF ‘Does Not Manipulate Markets’
In this year’s Singapore2049, which started on Sept. 18, Wintermute, a popular market maker, has hurled serious allegations against its peer, DWF. Wintermute alleges that DWF is manipulating markets instead of providing liquidity to guide the healthy development of crypto.
This feud continues as Wintermute disagrees with DWF’s portrayal of its over-the-counter (OTC) transactions. In Wintermute’s view, DWF falsely declares the transactions as transactions rather than investments.
In a recent interview, a DWF Labs executive denied the market manipulation accusations against his firm. The managing partner, Andrei Grachev, said:
“We are not involved in any manipulation. When people see some sign that this asset might be profitable, they’re going to rush into it, and the liquidity in the market isn’t as good as it was a year ago, and it’s easily driven by people, by the market itself.”
Grachev emphasized that DWF Labs differs from one-way traders as they utilize the futures market to hedge their positions.
DWF Labs specializes in dual market-making while investing in projects like Fetch.ai, Synthetix, Flare Network, Coin98, Yield Guild Games (YGG), TON, Conflux, Mask Network, and others. Reports suggest sharp rises and falls in token prices in these projects.
Grachev insists that market dynamics and not manipulation drive the anomalies. The DWF Labs executive says that crypto suffers risks of market crashes, which is why they invest in projects.
Grachev also noted that the projects receiving investment should “explain to their communities and investors, what is the rationale behind this? Why don’t they go to the exchange?”
3.3 Billion SPELL Transaction: ‘Market Manipulation?’
Even as claims of market manipulation continue, DWF received about 3.3 billion SPELL tokens, valued at approximately $1.57 million, from Abracadabra – Money’s MIM Treasury Wallet.
Immediately after, DWF made a test deposit of 1,000 SPELL tokens to Binance Crypto Exchange. Afterward, Etherscan shows that the wallet sent another two billion SPELL tokens to the Binance Wallet, bringing the total to 2,000,000,1000 SPELL.
This rapid succession of events has already sparked conversations, with some predicting a strategic play to bait shorts and induce a price pump.
The post DWF Denies Wintermute’s Market Manipulation Accusations appeared first on CryptoPotato.