Binance Refutes Claims of Trading Against its Users; Client Experience is of “Utmost Importance”

2021-8-24 15:52

Leading cryptocurrency exchange Binance pushed back against the allegation of market manipulation in response to an alleged ex-employee making such claims on Twitter.

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

Binance claims to place “utmost importance” on its client experience and trading integrity, saying it reserves the right to take legal action against such people to protect its interests. Also, it “welcomes responsible whistle-blowing,” said Binance.

According to the exchange, as the cryptocurrency industry gets more regulated, it expects fewer “FUD-peddlers and individuals with malicious intent.”

The pseudonymous Twitter user, who went by RealFulltimeApe and claimed to be a former “big data engineer” at the exchange, alleged that Binance “purposely pumps/dumps the price” and said it would be “providing proof soon.”

Binance said the Twitter account didn’t belong to its former employee; instead, it is an impersonator. The Twitter account has since been deleted and doesn’t exist anymore.

This week, as we reported, Binance Singapore, the local affiliate of the exchange, hired former Singapore Exchange Ltd. executive Richard Teng as its CEO.

The announcement comes as Binance continues to face scrutiny worldwide and tries to be proactive to be more compliance-oriented and seek local licenses.

The exchange has also been bolstering efforts against money laundering and has implemented stricter background checks on customers with immediate effect. Binance users are now required to complete a verification process to access its products and services, and those who haven’t done full KYC will only be able to withdraw funds, cancel orders, and close positions.

FTX has reportedly also introduced mandatory KYC (know-your-customer) for everyone to be regulatory compliant.

The post Binance Refutes Claims of Trading Against its Users; Client Experience is of “Utmost Importance” first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 483.12 (-100%)

against binance exchange users market claims twitter

against binance → Результатов: 126


Bitcoin, regardless of global concerns, will continue being 'safe-haven': Binance's Coley

People invest in Bitcoin believing it to be an uncorrelated asset; something which can be used as a hedge against financial calamity. Since Bitcoin was essentially born during one, the narrative only The post Bitcoin, regardless of global concerns, will continue being 'safe-haven': Binance's Coley appeared first on AMBCrypto.

2020-3-20 11:00


Binance US Adds Privacy-Centric Coin Dash Including US Dollar Trading Pair

On Wednesday, the US branch of Binance crypto exchange announced it has listed privacy-centric cryptocurrency Dash in its platform, Finance Magnates reports. The exchange which was started last month offering crypto-fiat services announced it will offer trading services for Dash against three forms of currencies comprising of Bitcoin, USDT as well as USD. the addition […]

2019-10-17 22:31


Фото:

Binance Offers Chinese Bitcoin Traders a Lifeline with P2P Trading

Binance, the world’s largest crypto exchange by 24-hour trading volume has announced the launch of its peer-to-peer (P2P) crypto trading service for Chinese residents. Users will now be able to trade a few supported cryptocurrencies including bitcoin (BTC), ether (ETH) and Tether (USDT) against the Chinese yuan, according to a blog post from the exchange,Read MoreRead More.

2019-10-9 15:48