Binance has made an announcement stating that it has learnt about allegations of market manipulation made against the cryptocurrency exchange, and it wants to make their position regarding this critical subject matter clear.
Binance has never traded against their users nor manipulated the market, and Binance exchange never will. Binance places utmost importance on client experience and trading integrity.
As cryptocurrency industry strengthens relations with regulators, Binance exchange expect fewer FUD-peddlers and individuals with malicious intent, including the impersonation of Binance employees.
Binance reserves the right to take legal action to protect its interests and Binance exchange welcomes responsible whistle-blowing that protects the trust of their community.
Binance is number 1 bitcoin and cryptocurrency exchange right now. It is important for it come clear for not doing any sort of market manipulation in order to prevent blackswan crash like that of March 2020. Imagine binance CEO going to jail and think about the potential bad impact it can have over the overall health of cryptocurrency exchanges and entire cryptocurrency ecosystem.
That does not mean other crypto exchanges are not doing market manipulation. We do not want to name them but some of them are in top 10 in terms of volume.