Binance rejects market manipulation allegations

The cryptocurrency exchange Binance rejected the allegations of market manipulation and said it ‘reserves the right to take legal action to defend its own interests’.

Upon learning about allegations of market manipulation made against us, we want to make our position regarding this critical subject matter clear.

Binance has never traded against our users nor manipulated the market, and we never will.

— Binance (@binance) August 23, 2021

‘Having learned about the allegations of market manipulation against us, we want to clarify our position on this important issue. Binance has never traded against its users and has never manipulated the market, and never will,’ as stated in the message.

The exchange did not specify the reason for publishing the post. It expressed hope that, as the industry strengthens its relations with regulators, the amount of FUD and malicious actors — including those posing as Binance staff — will decline.

On August 21, a Twitter user under the alias RealFulltimeApe described himself as a former employee of Binance’s European division and accused the trading platform of deceiving users. He claimed to possess audio and video evidence.

At the time of writing, the tweet had been deleted, as had the account. However, screenshots of the posts were published on Reddit.

, a group of international traders filed a lawsuit against the cryptocurrency exchange, accusing it of failing to ensure access to its infrastructure during peak loads and causing multi-million-dollar losses.

Earlier in the summer, the company faced regulatory pressure from regulators in several countries. In ForkLog «July 2021 in numbers», the claims against Binance are listed in chronological order.

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