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HomeCrypto NewsExchangesUS Commodity Futures Trading Commission (CFTC) Probes Binance Over Allegations of Possible Insider Trading And Market Manipulation

US Commodity Futures Trading Commission (CFTC) Probes Binance Over Allegations of Possible Insider Trading And Market Manipulation

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Binance regulatory troubles have now spread to the US. A recent Bloomberg report highlighted that the US Commodity Futures Trading Commission (CFTC) is now investigating the crypto exchange over allegations of possible insider trading and market manipulation.


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People familiar with the matter and who preferred not to have their names and titles mentioned told Bloomberg that this new investigation is being conducted confidentially. The CFTC is investigating whether Binance or any of its employees have made any profit by leveraging their clients.

 

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In a Binance statement mentioned by Bloomberg, a Binance representative said that the company does not tolerate insider trading and follows a strict code to avoid any misconduct that could harm the exchange’s customers and damage its reputation in the crypto market.

According to the representative, Binance’s security team always makes sure that no crime occurs or, if it does, the wrongdoers are held responsible for it.

So far no comment has been obtained from the CFTC in this regard.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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