Cryptocurrency

Binance U.S under investigation for insider trading and market manipulation

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muhammadyusufz

Nigeria


  • 21st, September 2021 (2 months ago)
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U.S investigations into Binance Holdings Ltd. has expanded, with authorities now investigating the world’s largest cryptocurrency exchange for possible insider trading and market manipulation.

 

According to a Bloomberg report, U.S officials have been looking into whether Binance or its employees profited by taking advantage of its customers, citing people with knowledge of the matter who asked not to be identified because the probe is confidential. The review involves Commodity Futures Trading Commission (CFTC) investigators, who in recent weeks have been reaching out to potential witnesses, one of the informants said.

 

Binance runs one of the largest cryptocurrency exchanges by volume of transactions which gives them a bird’s eye view into millions of transactions. U.S authorities want to uncover whether or not the cryptocurrency exchange exploited that access, including by trading on customer orders before executing them.


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