Close Menu
  • Home
  • Articles
  • Cryptocurrency
    • Market Analysis
    • Exchanges
    • Investment
  • Blockchain
    • Financial Market
    • Bank
    • Wallet
    • Payment
    • DeFi
    • Blockchain Platform
    • Supply Chain
    • DApps
  • Technology
    • Bitcoin
    • Ethereum
    • Other Currencies
  • Reports
    • Private Sector Report
    • Rating Report
    • Novice Tutorial
    • Interviews
    • Exclusive View
  • All Posts
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
BlockMediaBlockMedia
Subscribe
  • Home
  • Articles
  • Cryptocurrency
    • Market Analysis
    • Exchanges
    • Investment
  • Blockchain
    • Financial Market
    • Bank
    • Wallet
    • Payment
    • DeFi
    • Blockchain Platform
    • Supply Chain
    • DApps
  • Technology
    • Bitcoin
    • Ethereum
    • Other Currencies
  • Reports
    • Private Sector Report
    • Rating Report
    • Novice Tutorial
    • Interviews
    • Exclusive View
  • All Posts
BlockMediaBlockMedia
Home » WSJ Exposes Binance’s Market Manipulation and Whistleblower Dismissal: Binance Claims Strict Market Monitoring, but Is It Just Smoke and Mirrors?
Cryptocurrency

WSJ Exposes Binance’s Market Manipulation and Whistleblower Dismissal: Binance Claims Strict Market Monitoring, but Is It Just Smoke and Mirrors?

By adminMay. 10, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
WSJ Exposes Binance's Market Manipulation and Whistleblower Dismissal: Binance Claims Strict Market Monitoring, but Is It Just Smoke and Mirrors?
WSJ Exposes Binance's Market Manipulation and Whistleblower Dismissal: Binance Claims Strict Market Monitoring, but Is It Just Smoke and Mirrors?
Share
Facebook Twitter LinkedIn Pinterest WhatsApp Email

WSJ: Binance Market Surveillance Head Fired After Reporting DWF Market Manipulation

According to a report by The Wall Street Journal on May 9th, members of Binance’s market surveillance team discovered possible market manipulation by market maker DWF Labs. However, after reporting the situation, the surveillance personnel were fired by Binance. In response to this, Binance stated that they have zero tolerance for market manipulation and will not favor any wrongdoers.

(Previous Summary: Good news! Binance’s Zhao Changpeng “sentenced to only 4 months imprisonment,” what did CZ say in court?)

(Background Supplement: He Yi’s Growth Story: Psychology Major, Former Teacher, Host… Binance is now inseparable from her)

Table of Contents:

WSJ: Binance Market Surveillance Head Fired After Reporting DWF Market Manipulation
Binance: Investigation Team Remains Neutral and Avoids Bias
DWF Labs: Media Reports are False

Following the recent sentencing of Binance’s founder, Zhao Changpeng (CZ), by the United States, Binance, the world’s largest cryptocurrency exchange, has once again faced public controversy regarding compliance issues.

WSJ: Binance Market Surveillance Head Fired After Reporting DWF Market Manipulation

On May 9th, The Wall Street Journal quoted an anonymous insider claiming to be a former Binance employee, stating that Binance’s market surveillance team discovered that prominent market maker DWF Labs engaged in fraudulent transactions worth $300 million during the year 2023. The team also found evidence of market manipulation involving at least six cryptocurrencies, including YGG.

According to the insider, the head of Binance’s surveillance team reported the potential market manipulation by DWF Labs to the internal management of Binance but was subsequently fired, raising concerns about the transparency and fairness of Binance’s market.

Binance: Investigation Team Remains Neutral and Avoids Bias

Due to the rapid spread of this WSJ report and the ensuing discussions in the community, Binance issued an official statement on the Binance Futures’ official channel last night, stating that Binance has strict market surveillance procedures and will not tolerate any market manipulation. The statement also emphasized that the investigation team remains neutral and avoids bias.

He Yi, co-founder of Binance, also retweeted Binance’s official response and added the following comment:

DWF Labs: Media Reports are False

On the other hand, DWF Labs, as a significant party involved, issued a clarification yesterday, stating that many media reports have distorted the facts.

Related Reports
Follow-up on the io.net Hack: Founder Apologizes, Hires New CTO from Binance to Protect $IO Airdrop Rights
Binance’s New Launchpool: What is Renzo, the Protocol for Repledging Liquidity? BNB Surges to $620 at One Point
Interpreting the Market in April with 11 Charts: Binance’s Spot Trading Market Share Increases to 78.7%, Bitcoin Futures Open Interest Declines, Mining Revenue Drops…

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleWhat happens if SEC rejects Ethereum spot ETF? JPMorgan may face legal challenge, likely to lose
Next Article Cracking down! Korean Tax Agency Collects 83.3 Billion Korean Won in Taxes from Bithumb Users, Will Taiwan Exchange Follow Suit?

Related Posts

Earning $4 Million in Two Months: Unveiling James Wynn’s “Hedge Fund for Small Accounts” Without Any Liquidations

Jun. 16, 2025

Coinbase Launches Bitcoin Cashback Credit Card Offering Up to 4% and Perpetual Contracts Available for U.S. Retail Investors

Jun. 13, 2025

Escalation of the Middle East Crisis: U.S. Urgently Withdraws Diplomats and Military Families, Crude Oil Surges Over 4% Overnight, U.S. Stock Market Declines Across the Board

Jun. 12, 2025
Don't Miss

Federal Bank Explains the Ban on Scheduled Transfers: High Proportion of Alert Accounts in Cryptocurrency Accounts Makes Fraudulent Money Flows Difficult to Track.

By adminJun. 18, 2025

Taiwan’s Two Major Financial Institutions Suspend Virtual Currency Platform Account TransfersRecentl…

Understanding Ethereum ERC-7786: A Unified Multichain Collaboration Standard, Heralding the Era of “Unity” in the ETH Ecosystem?

Jun. 18, 2025

ARK Invest Sells Approximately $51.7 Million of Circle Stock, Representing Only 10% of Cost Basis

Jun. 17, 2025

What Could Be the Potential Peak of Bitcoin This Cycle? An Analysis Using Multiple Valuation Models

Jun. 17, 2025
Our Picks

Federal Bank Explains the Ban on Scheduled Transfers: High Proportion of Alert Accounts in Cryptocurrency Accounts Makes Fraudulent Money Flows Difficult to Track.

Jun. 18, 2025

Understanding Ethereum ERC-7786: A Unified Multichain Collaboration Standard, Heralding the Era of “Unity” in the ETH Ecosystem?

Jun. 18, 2025

ARK Invest Sells Approximately $51.7 Million of Circle Stock, Representing Only 10% of Cost Basis

Jun. 17, 2025

What Could Be the Potential Peak of Bitcoin This Cycle? An Analysis Using Multiple Valuation Models

Jun. 17, 2025
Latest Posts

Federal Bank Explains the Ban on Scheduled Transfers: High Proportion of Alert Accounts in Cryptocurrency Accounts Makes Fraudulent Money Flows Difficult to Track.

Jun. 18, 2025

Understanding Ethereum ERC-7786: A Unified Multichain Collaboration Standard, Heralding the Era of “Unity” in the ETH Ecosystem?

Jun. 18, 2025

ARK Invest Sells Approximately $51.7 Million of Circle Stock, Representing Only 10% of Cost Basis

Jun. 17, 2025

What Could Be the Potential Peak of Bitcoin This Cycle? An Analysis Using Multiple Valuation Models

Jun. 17, 2025
About Us
About Us

BlockMedia, your comprehensive source for breaking blockchain news, in-depth analysis, and valuable resources. Unravel the blockchain revolution as it happens, with us.

Categories
© 2025 blockogmedia .

Type above and press Enter to search. Press Esc to cancel.