The CFTC Sues Binance, but Is It Regulatory Turf War?
The Breakdown
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Binance's Secret Marketmakers
The CFTC claims that Binance operated multiple trading entities to make markets on the exchange, which of course is not necessarily a problem if proper anti- manipulation and fraud controls are in place. CZ for his part felt strongly enough about this point to pen a response. In his blog post following the lawsuit, CZ wrote, Binance.com does not trade for profit or manipulate the market under any circumstances.
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