A big crypto market maker is in trouble

Wintermute is a big crypto market maker that operates on Binance. They got into trouble on October 10th - their liquidity issues triggered the crypto crash that caused alt prices to drop by 60% that day.

They now appear to be liquidating their assets in a bid to raise cash. 40% of their holdings have been sold in the last three weeks.

The good news is that the market seems to be absorbing the sales without tanking another 20%. The bad news is that there will not be a bounce till Wintermute has finished selling.

Be careful out there. Don't use leverage to trade crypto.