You ask Wintermute, where did you get so many bitcoins. He must have told you that it's a big player who wants to sell coins, so they went OTC and transferred the coins to sell to themselves The benefits of doing so are Exchanges (here, the exchange does not specifically refer to Binance, all CEX are the same) can pretend to be unaware and find major players or insiders to take the blame if something happens Market makers can also pretend to be unaware. I don't know if it's a coin from the exchange or platform, because the person who contacted me is a 'big player'. As for how his coin came about, it's not my business In this way, once something happens, it can avoid being associated with regulatory agencies and perfectly shift the blame Think about it carefully, where is there a big player who sells for wintermute for tens of coins every day without long hands? Can't you recharge and sell it yourself observe 1KbDEg1tDz2ErYgaDbaDhhawnLrSQFaFx5 This address. Most of the transfers above are made in the tens of coins per transaction, dozens of times a day, averaging several thousand coins per day. Do you think this would be the behavior of a wealthy individual? Bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h This address is a hot wallet address on Binance Carefully observe the address bc1qm, which has already received (aka sold) 5650w bitcoins cumulatively Go check the data on the chain, and basically every day, large transfers come from 1Kb addresses. If you want to smash the plate, 1Kb will vigorously transfer 5000 to 10000 BTC per day, which is observable Moreover, 1Kb is just a recharge address for Wintermute, as it has other Bitcoin recharge addresses There are only 2100w bitcoins, and Binance, the largest institution, has only 54w BTC in its Bitcoin reserves. However, with just a 1Kb recharge address, 125w bitcoins can be received, which is equivalent to twice Binance's Bitcoin reserves. It is something that a normal person would suspect Regarding individual questions: If you ask Grok, you will definitely defend the market maker in various ways without any doubt, because Grok has also been fed with data, which is normal. Grok cannot even calculate how many coins are sold on average for 1Kb per day, and will only say that I have no evidence, but in fact, it is 125w coins divided by two years. Elementary school math 2. Some people say this is a rebalancing of market maker liquidity. Hahaha, congratulations on learning a new word. Carefully flip through the chain, go from 1Kb to bc1qm, then transfer to an intermediate address, and then turn back to 1Kb to smash the disk. Is this called rebalancing? Not hiding at all Finally, I still firmly believe that the Two Saints are once-in-a-century saints. This is just a mess by the people below. As long as we deal with Wintermute, we can get rid of the relationship. I hope Ersheng can think about it carefully