Basically exchanges have spent the last year monitoring very sophisticated fund flows from a single consortium of very large crypto whale manipulators who have been orchestrating the brutal continued dumps since 2018.
It became clear they were not going to stop doing this, making the multi billion dollar industry players in this market very worried.
It also became clear the primary outlet for these moves shifted to binance where the dumping group expended significant time building a network of KYCd accounts for trusted large moves over the course of years.
Binance finally decided to pull the trigger, either orchestated the hack or let it happen, knowing the whale group was imminently about to move tens of thousands of Bitcoin and equivalent Ether back into their platform for a final major, multi-year market killing move allowing them to spend the next 3 years accumulating so much of the assets they could control the market going forward forever... Mmm mmm mmm oh no no. This is no good.
So brilliantly the hack happens right before the initiation of days of transactions to situate the dump group properly... Suddenly poof. No withdrawals. More importantly no deposits. Whale dumpers very angry now. Don't have backup infrastructure in place at such short notice to orchestrate major dump on such short notice. Plan is ruined.
In conjunction with other exchanges, primarily coinbase and bitfinex, binance all Co. Implement own funds to pump BTC as much as possible in 1 week period, changing fundamental and technical market structure for rest of the year. Even if they were to dump now, effect would be nothing what they wanted. Now entire plan which they've been working towards since before 2017 bull run is ruined. Many people in a lot of trouble. Lots of money just got fucked up this week with very dangerous people. Maybe they aren't trusted anymore. Maybe some end up dead. No good.
Market is saved. Bull run rest of year upon official announcement of fidelity go-live
