Binance hits back at claims it fired investigator who found manipulation, Hong Kong crypto ETFs take the “equivalent” of $50B. Asia Express.
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Cryptocurrency exchange Binance has been accused of firing its own investigators after discovering that its VIP client, props trading firm DWF Labs, engaged in alleged acts of market manipulation.
A May 9 Wall Street Journal report claimed that DWF Labs engaged in market manipulation, wash trading, and inflated trading volumes amounting to $300 million through deals with crypto projects. After the exchanges surveillance team recommended offboarding the client, Binance allegedly sided with DWF Labs and fired the investigator, arguing insufficient evidence for the claim.
