Binance is being investigated for market manipulation in the US
The information revealed on Bloomberg on Friday night (18) came from sources familiar with the matter who requested anonymity as a confidential investigation.
According to the report, officials from the Commodity Futures Contracts Trading Commission (CFTC) are trying to find out if the Binance team has taken advantage of its insider view of the market to profit by trading customer orders before executing them.
In recent weeks, officials have been looking for possible witnesses to help with the investigations.
The charge was rebutted by a Binance spokesman who told Bloomberg that the company has a “zero tolerance” policy on the use of insider information, and a “strict code of ethics” to prevent any harmful conduct by its employees. customers and the crypto industry in general.
The spokesman also pointed out that the exchange itself has an internal security team to investigate irregularities and hold workers accountable, with dismissal being the minimal repercussion.
A CFTC representative was approached by the newspaper, but declined to comment on the case.
This is not the first time that the CFTC has been looking for signs of irregular behavior by Binance in the country. In March, they opened an investigation into whether the brokerage was allowing people to buy and sell derivatives, a service they are not authorized to offer in the region.
As soon as news of the new investigation started circulating last night, CZ returned to Twitter to leave a message for the community: “Don’t get distracted by the noise.”
Don't get distracted by noise.
— CZ 🔶 Binance (@cz_binance) September 18, 2021