Binance

After battling the bear trend for weeks, Bitcoin (BTC) is bouncing back again, surging past the $62K key resistance zone to signal the resurgence of the bulls. This is coming at a time when the founder of the world's largest crypto exchange, Changpeng Zhao, is heading to prison for money laundering. While analysts thought the sentencing of the former Binance CEO would send ripples to the market, the former has been the case with the market booming.  In another development,…

Binance has refuted allegations bordering on market manipulation. The trading firm has launched new loanable assets to sustain its dominance in the market. Crypto exchange Binance has addressed allegations of wash trading activities, involving a major client, DWF Labs. Reports claim DWF Labs engaged in wash trading worth $300 million over the past year, artificially inflating the prices of certain cryptocurrencies, including Yield Guild Games. Binance Denies Involvement with DWF Labs In response to these accusations, Binance posted on its…

The post XRP News: Ripple’s Defense Against SEC Stablecoin Claims Bolstered by Binance Case appeared first on Coinpedia Fintech News In recent developments, Ripple is facing the SEC head-on in the legal battle. Ripple’s Chief Legal Officer, Stuart Alderoty, deemed the SEC’s arguments in support of its motion for remedies and final judgment weak, signaling potential progress towards the end of the lawsuit. Could this be the turning point XRP holders have been waiting for? Here’s the scoop. SEC vs.…

With Binance founder and former CEO Changpeng “CZ” Zhao recently sentenced to four months imprisonment, a WSJ report is alleging that the crypto exchange giant fired one of its investigators who exposed market manipulation by one of the company’s clients, DWF Labs. Binance, however, denied the report, stating that the cryptocurrency exchange maintains a strict market surveillance program that does not tolerate market abuse. DWF Supposedly Involved in Wash Trading Worth $300 Million According to a report by the Wall…

The Nigerian government has denied the allegations made by Binance’s CEO, Richard Teng, claiming that its officials demanded a $150 million bribe to settle the criminal charges against the crypto exchange. In an official statement released on Wednesday, the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, dismissed the claims as baseless. A “Diversionary Tactic” Ibrahim stated that the allegations were part of a coordinated effort by Binance to discredit the Nigerian government and divert attention…

Canada has imposed a fine against Binance – the world’s largest crypto exchange – for running afoul of the nation’s anti-money laundering rules last year. Per a public notice published on Thursday, the federal government said Binance didn’t comply with rules and registrations related to operating as a foreign money services business (FMSB). Binance Fined $4.4 Million By Canada The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) wrote: “Binance Holdings Limited was imposed an administrative monetary penalty of…

The post Binance Officials Respond to Market Manipulation Allegations Alongside DWF Labs’ Wash Trading Activities appeared first on Coinpedia Fintech News Binance has been under the spotlight of controversy ever since harsh allegations of market manipulation involving DWF Labs were placed against the company. Reports were released claiming that committed significant wash trading activities worth $300 million have been conducted in the last year by DWF Labs.  After seeing such allegations, several key figures in charge of running Binance have…

The post Binance Faces Allegations Over Employee Dismissal As Manipulative Activities Were Reported  appeared first on Coinpedia Fintech News As reported by the Wall Street Journal, Binance fired the head of its market surveillance team after he brought to light manipulative activities by DWF Labs. Binance’s compliance department believed that there was insufficient evidence, and believed that the head of the monitoring team worked closely with DWF’s competitors and fired him. This has raised questions about the exchange’s fair trading…

The post Binance Shocker: No Market Manipulation by DWF Labs, Denies Reports! appeared first on Coinpedia Fintech News Binance, one of the world’s largest digital asset exchanges, has firmly denied allegations of market manipulation involving DWF Labs. This controversy has resurfaced following claims made by an anonymous source alleging significant wash trading activities amounting to $300 million during the previous year. Allegations Of Market Manipulation As per the reports, DWF Labs, a prominent Web3 investment and market-making firm has come…