WSJ: Two-thirds of Binance's trading volume last year came from top traders with monthly trading volumes exceeding $100 million

2024-05-09 18:19:00

Collection

ChainCatcher news, according to The Wall Street Journal, in response to the SEC investigation in 2022, Binance expanded its market surveillance team by hiring more than a dozen investigators from Bank of America and hedge fund Citadel.

It is reported that the team developed new software tools to track market manipulation and detect "wash trading," where traders act as both buyers and sellers in the same transaction to create a false appearance of market activity. The new technology has made investigators aware of the potential scale of the problem, particularly among VIP clients who rely on their business.

Data shows that last year, top traders on the Binance platform with monthly trading volumes exceeding $100 million accounted for two-thirds of the total trading volume.

(Source Link)

Related tags

Binance trading volume

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.