Binance’s leverage update triggers a $3.8 million whale liquidationAccording to data from the blockchain analytics tool Lookonchain, Binance’s update of leverage and margin tiers on tokens like ACT on April 1 has triggered some massive liquidations among whales.“Binance updated leverage and margin tiers on tokens like ACT — and a whale got liquidated for $3.79M at $0.1877,” Lookonchain said in an X post.
Wintermute co-founder and CEO Evgeny Gaevoy denied the company’s involvement in the altcoin massacre on April 1 in a social media exchange with X user ilikeblocks.“Not us [for what it’s worth], but also curious about that post mortem,” Gaevoy wrote.
Act I “fully aware of the situation” The massive drop in the ACT token has not gone unnoticed on social media, with Act I taking to X to assure its community that the project is fully aware of the current situation.“Our team is actively investigating and working collaboratively with all relevant parties to address this matter,” Act I wrote, adding that it also started developing a “response plan” with its trusted partners.
