The FTX exchange was sued for $ 150 million for manipulating the price of bitcoin futures

The lawsuit was filed yesterday by the plaintiff Bitcoin Manipulation Abatement LLC. In the case to the FTX derivatives market, complaints ...


The lawsuit was filed yesterday by the plaintiff Bitcoin Manipulation Abatement LLC. In the case to the FTX derivatives market, complaints include: conspiracy to manipulate the cryptocurrency market, unfair trading and illegal selling of securities.
In addition, there is a force that FTX manipulates the price of Bitcoin futures on Binance.

According to the lawsuit, FTX tried to manipulate the price of Bitcoin futures on Binance. The defendants dumped 255 BTC futures contracts to create an artificial price move. This will trigger execution of stop-loss orders and liquidate long-term positions.

According to the investigation, FTX used various accounts to manipulate the market in ways that had been warned and deemed illegal by the U.S. Securities and Exchange Commission (SEC).

In addition, FTX is said to operate an unlicensed money transfer business, and has alleged that FTX has sold about 50 million FTX tokens (FTT) to US investors at a high discount.

Therefore, according to the plaintiff Bitcoin Manipulation Abatement LLC, requires the FTX to pay a total damages of 150 million USD.

So far, FTX has not commented on this incident. However, regulators in the ‘FTX Official’ Telegram community said the FTX would make a statement as soon as possible.

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High Tech Brain: The FTX exchange was sued for $ 150 million for manipulating the price of bitcoin futures
The FTX exchange was sued for $ 150 million for manipulating the price of bitcoin futures
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