🚨 Wintermute Founder Responds to ACT Token Drop 🚨

According to PANews, Wintermute founder Evgeny Gaevoy addressed concerns on X regarding the sharp decline in meme coins like ACT. Gaevoy clarified that Wintermute did not initiate the sell-off but engaged in arbitrage trading within AMM liquidity pools after the price fluctuations. He emphasized that the firm is not responsible for the volatility and is actively monitoring the situation.

Meanwhile, BlockBeats reports that on-chain data shows Wintermute conducted high-frequency sales of approximately $250,000 worth of ACT tokens on Raydium within the past 30 minutes. This aligns with Gaevoy’s statement, suggesting the firm leveraged arbitrage opportunities amid the price swings.