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U.S. probes possible insider trading at Binance


© Reuters. FILEPHOTO: This illustration, taken on August 6, 2021, shows a representation of cryptocurrency Binance. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – U.S. officials are examining possible insider trading and market manipulation at global cryptocurrency exchange Binance, Bloomberg News reported on Friday.

Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg reported, citing people with knowledge of the matter.

Commodity Futures Trading Commission investigators are being reexamined. In recent weeks, they have also been reaching out for potential witnesses.

Binance released a statement saying that Binance has a zero tolerance policy on insider trading, and an ethical code that prohibits any kind of conduct that may have negative consequences for our industry or customers.

The CFTC wasn’t immediately available to comment.

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