Home / Crypto News / Bitcoin Course Manipulator at Crypto Bosphorus Binance is being sued for $ 150 million

Bitcoin Course Manipulator at Crypto Bosphorus Binance is being sued for $ 150 million

Bitcoin Kurs Manipulator bei Kryptobörse Binance wird auf 150 Mio. USD verklagt

Bitcoin Kurs Manipulation Binance
It's about manipulating the Bitcoin price at the world's largest Bitcoin exchange Binance

Bitcoin Manipulation Abatement LLC has filed a lawsuit in the amount of 326 million USD has been filed against the crypto derivatives exchanges FTX and the trading company Alameda Research LLC. Both companies have the same CEO. The lawsuit, filed on Sunday and amended on Monday, alleges that the CEO and several employees have twice unsuccessfully attempted to manipulate the Bitcoin course on the Binance crypto exchange.


At the 16. In September, Binance CEO Changpeng Zhao convicted the guilty party. He called this “a market maker of a smaller futures market”. He said he was trying to manipulate the Bitcoin Exchange. The attempt was unsuccessful: “Only the attacker has lost a lot of money,” he tweeted.

Later that same day, Zhao tweeted that he was talking to the customer. “It was an accident because of a bad parameter on her side. Not on purpose. All right now. ”

But of course it was not all good: In the lawsuit is loud Law 326 also alleges that FTX and the companies affiliated with the company “have used multiple broker accounts to conduct a variety of illegal manipulation tactics on the Bitcoin spot and futures markets.”

It is also alleged that Alameda's FTX and the OTC arm acted as unlicensed money senders, the dimensions of which are “truly breathtaking”. OTC means over-the-counter trading. Off-exchange trading takes place directly between two parties without the supervision of a stock exchange. This is in contrast to stock exchange trading, which is conducted via stock exchanges. A stock exchange has the advantage that it promotes liquidity, creates transparency and maintains the current market price.


Alameda Research has dismissed the allegations and described the lawsuit as a “harassment lawsuit”, “which involves ridiculous inaccuracies, including the confusion of Alameda's entire business model.” could become.”

Binance declined to comment.

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Alameda Research presents itself on its website as follows:

“Alameda Research was launched in October 2019 founded. We manage over $ 10 million (************************************************************************************) *********************************************************************************************************************************************************************************************************************** , We operate globally and can trade on all major exchanges and markets.

With decades of experience from Jane Street, Optiver, Susquehanna, Facebook and Google, we've developed the most advanced trading systems in the crypt world and offer extremely tight OTC spreads. “

Text proof: Decrypt, Image: Pixabay

Author: Peter Joost – Source Post: http://gestyy.com/w5SRjC

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