Binance Denies Manipulating Market

Binance says that it never trades against its users in response a Twitter threat made by someone who allegedly impersonates its former employee, Binance, a cryptocurrency exchange, responded to several charges made by an alleged ex-employee in a recent Twitter message, denying that it has ever influenced the cryptocurrency market:

We wish to make our position on this vital subject matter clear after learning about charges of market manipulation leveled against us. Binance has never traded against its users or manipulated the market, and it is unlikely that we will ever do so.

RealFulltimeApe, an anonymous Twitter user who claims to be Binance's former big data engineer, appears to be the target of the thread.

According to the user, the world's largest cryptocurrency exchange is countertrading and liquidating its users. He claims to have "several audio and video files" to back up his claims, but he has yet to present any evidence to back up his claims.

1) As an ex-European Finance Big Data Engineer, I can assure you that you are being duped.

Binance is continually liquidating and countertrading you.

Binance maintains track of major liq levels and purposefully pumps/dumps the price to profit from them.I'll provide proof as soon as possible.

In such circumstances, the exchange suggests that it can take legal action while encouraging "ethical whistle-blowing":

Binance maintains the right to take legal action to protect its interests in such circumstances, and encourages responsible whistle-blowing that safeguards our community's trust.

Binance filed a defamation lawsuit against Forbes Media LLC in late 2020, after the major business publication published an article about the "Tai Chi" document, which explains how the world's largest exchange allegedly attempted to circumvent US regulations. The plaintiff dismissed the lawsuit three months after it was filed for an unclear reason.

The exchange has been the subject of intense regulatory investigation in a number of jurisdictions in recent months.

As a result, it has taken a proactive approach to compliance, requiring all existing users to complete mandatory know-your-customer (KYC) procedures.

By lowering the number of "FUD-peddlers," the exchange seeks to improve relations with regulators.


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