Two-thirds of Binance's trading volume last year came from top traders with monthly turnover over $100 million
2024-05-09 10:19:08
On May 9, according to the Wall Street Journal, in response to the 2022 SEC investigation, Binance expanded its market monitoring team, hiring more than a dozen investigators from Bank of America and hedge fund Citadel. The team developed new software tools to track market manipulation and detect "reverse trades" - where traders act as buyers and sellers in the same trade, creating the illusion that the market is active. New technology has made investigators aware of the potential scale of the problem, especially among VIP clients who rely on its business. Data show that top traders with monthly trading volume of more than $100 million accounted for two-thirds of total trading volume on Binance's platform last year.
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