Binance reportedly under investigation in the US for insider trading | CryptoSlate

CryptoSlate








Binance reportedly under investigation in the US for insider trading | CryptoSlate




















Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more.

Start Earning Interest

Binance, the world’s largest cryptocurrency exchange, is under a fresh investigation by United States Commodity Futures Trading Commission (CFTC) for possible insider trading and market manipulation.

Binance under CFTC radar

A Bloomberg report whose sources were anonymous revealed that CFTC, the agency responsible for regulating the U.S derivatives markets, is examining the possibility that Binance or its staff exploited customers by taking advantage of its trading activities.

How To Get Free Crypto  

Per Bloomberg, “as part of the inquiry, U.S. officials have been looking into whether Binance or its staff profited by taking advantage of its customers … The review involves Commodity Futures Trading Commission investigators, who in recent weeks have been reaching out to potential witnesses.”

While speaking on the development, a Binance spokesperson told newsmen that the exchange had a strict observance of the ethical code. He said that Binance has “a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry.”

The spokesperson also added a staff of the exchange found guilty of the accusation would face “immediate termination.”

You’ll recall that we reported that the CZ-led exchange has been facing accusation of market manipulation in recent times.

Binance against regulators

Prior to this investigation, Binance had earlier been probed by the U.S authorities for alleged money laundering and tax evasions and whether it had given U.S residents access to trade derivatives.

This investigation also coincides with the period that the CZ-owned exchange is battling regulatory battles from all corners of the world, and in its effort to surmount all pressure, it has been making an effort to hire executives with verse regulatory knowledge, to expand its products.

Coinbase Banner  

Part of the efforts embraced by the exchange include its recent announcement of its plan to have a physical headquarter as regulators have repeatedly slammed its “decentralized” claims.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Go to Source
Author: Oluwapelumi Adejumo


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.