Binance.US under scrutiny over possible insider trading and market manipulation By BTC Peers
According to a Bloomberg report, the U.S. Commodity Futures Trading Commission (CFTC) has intensified its probe into Binance U.S. for suspected market manipulation.
U.S. authorities are examining possible insider trading and market manipulation at cryptocurrency exchange Binance https://t.co/qFg9aA5kzG
— Bloomberg Crypto (@crypto) September 17, 2021
While Binance insists that it takes strict measures against any misconduct, U.S. regulatory authorities are keen to find out if the world’s biggest crypto trading platform allows insider trading and manipulation of the crypto market.
Bloomberg was informed by anonymous insiders that the CFTC has launched a confidential probe into Binance and its employees. The CFTC will investigate if any profits were made from taking advantage of clients.
Bloomberg also quoted a Binance representative’s statement, in which she stated that Binance doesn’t tolerate insider trading. She follows strict codes to stop any misconduct that could harm the reputation of its exchange customers.
An anonymous source claims that Binance’s security team ensures there is no illegal trading and, if any, holds the perpetrators accountable.
The CFTC is still silent about the matter.
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