Multiple Charges Filed for Alleged Crypto Market Manipulation Scheme
Categorised: Crypto, The Stream | Tags: crypto, DoJ, manipulation, market making, SEC, wash trading
Posted by Colin Lambert. Last updated: October 10, 2024
Posted by Colin Lambert. Last updated: October 10, 2024
US authorities have filed what they say are the first charges against financial services firms for market manipulation and “wash” trading in crypto markets.
The US Department of Justice (DoJ) and Securities Exchange Commission (SEC) have charged the heads and other employees of four crypto firms and four crypto market makers over a plan to boost the value of crypto tokens through wash trading as part of a “pump and dump” scheme. Four of those accused have pleaded guilty, one has agreed to do the same, while three others have been…
