Critics have renewed allegations against Binance founder Changpeng Zhao (CZ), accusing him of active trading and market manipulation on the Binance exchange following a suspicious whip saw in ETH/USDT trading. CZ maintains that he is not an active trader, emphasizing his long-term holding strategy and denying involvement in trading activities despite his ownership of market makers linked to Binance. Industry insiders, including Wintermute's CEO, have defended market maker activities, attributing volatile trades to automated bots rather than manipulation by CZ or Binance.

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