DWF Dismisses Allegations of Market Manipulation Made by Wintermute
DWF, a prominent player in the crypto market, has swiftly responded to allegations made by Wintermute regarding their involvement in market manipulation. Wintermute’s recent comments have reignited the ongoing feud between the two top players in the crypto market, with Wintermute accusing DWF of consistently spreading false information through the media.
At the Singapore2049 event, which began on September 18, Wintermute, a well-known market maker, accused DWF of manipulating markets instead of providing liquidity to support the healthy development of the crypto industry. Wintermute specifically disagreed with DWF’s portrayal of their over-the-counter (OTC) transactions, claiming that DWF falsely labels them as transactions rather than investments.
In response to these allegations, a DWF Labs executive denied any involvement in market manipulation. Andrei Grachev, the managing partner, stated, “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 and has invested in various projects, including Fetch.ai, Synthetix, Flare Network, Coin98, Yield Guild Games (YGG), TON, Conflux, Mask Network, and others. Reports suggest that these projects have experienced significant fluctuations in token prices. Grachev argues that these anomalies are driven by market dynamics, not manipulation. He also believes that projects receiving investment should explain to their communities and investors why they choose not to go to the exchange.
Amidst the ongoing allegations of market manipulation, DWF received approximately 3.3 billion SPELL tokens, valued at around $1.57 million, from Abracadabra – Money’s MIM Treasury Wallet. Shortly after, DWF made a test deposit of 1,000 SPELL tokens to Binance Crypto Exchange. Etherscan data shows that the wallet then sent an additional two billion SPELL tokens to the Binance Wallet, bringing the total to 2,000,000,1000 SPELL. These rapid transactions have sparked discussions, with some speculating that it may be a strategic move to attract short positions and induce a price pump.
It is important to note that these allegations and responses are part of an ongoing feud between DWF and Wintermute, two major players in the crypto market. The truth behind the accusations remains to be seen, and further developments are expected in the future.
Source: [The Block Beats](https://www.theblockbeats.info/news/45416?from=telegram)
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