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Binance accused of firing whistleblower for internal market manipulation report

  • Binance, the world's largest crypto exchange, has been accused of firing the head of its market surveillance team for reporting potential market manipulation by a high-profile client.
  • The surveillance team detected suspicious trading activity by DWF Labs, one of Binance's top clients, including pump-and-dump schemes and wash trading.
  • When the team submitted a report recommending DWF's removal, Binance leadership rejected the findings and fired the team's head, leading to more investigators leaving.
  • Binance faces increasing regulatory scrutiny, including fines for violating anti-money laundering requirements and civil charges for misleading US investors.

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