U.S. probes possible insider trading at Binance – Bloomberg News


FILE PHOTO: A representation of cryptocurrency Binance is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

September 17, 2021

(Reuters) – U.S. officials are examining possible insider trading and market manipulation at global cryptocurrency exchange Binance, Bloomberg News reported on Friday.

Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg reported https://www.bloomberg.com/news/articles/2021-09-17/u-s-s-binance-probe-expands-to-examine-possible-insider-trading, citing people with knowledge of the matter.

The review involves Commodity Futures Trading Commission investigators, who in recent weeks have been reaching out to potential witnesses, the report added.

“At Binance, we have 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,” Binance said in a statement.

CFTC was not immediately available for comment.

(Reporting by Uday Sampath in Bengaluru; Editing by Anil D’Silva)

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