Wintermute Unloads $57M in BTC and SOL on Binance and Coinbase

Wintermute, a global cryptocurrency market maker, has transferred approximately $57.1 million worth of Bitcoin and Solana to centralized exchanges Binance and Coinbase.

The transfer, which occurred on the 23rd, saw Wintermute deposit around 169.5 BTC to Binance, valued at roughly $13.1 million, as well as approximately 129,500 SOL, worth about $12.4 million.

A separate intermediary wallet also deposited 407.5 BTC to Coinbase, valued at around $31.4 million.

This transfer has raised concerns among traders and market participants, who interpret exchange deposits as a potential sell signal.