Crypto.com rejects allegations of their own trade (report)

Crypto.com rejects allegations of their own trade (report)
one of the leading cryptocurrency exchanges-Crypto.com-recently rumored that they had operated their own trade, while some of their teams might have acted with profits.
The company rejected the allegations and claimed that it had taken on proven practices to work in the industry.
Crypto.com under fire
Five people with direct knowledge of the matter are said to have informed the Financial Times that the cryptocurrency platform has used internal teams to participate in illegal activities, including self-trade. One of the people revealed that the managers of Crypto.com had made their employees sign "affidavit" that the company was not involved in such actions. They were also asked to "say that there is no internal market maker surgery".
Another person claimed that the proprietary commercial switches on the company's platform and extended to various trading places. The team responsible for this operation has the goal of earning money, "and not enabling them," they added.
Crypto.com said that its employees have never pushed to lie to other market participants. The company also assured that the majority of its revenue comes from the application for retailers.
"Therefore, Crypto.com's trading team ensures that Crypto.com is risk-neutral by securing these positions in a number of trading places, including the Crypto.com exchange," said the company.
The stock exchange rejected the claims that its market-make unit was trying to increase liquidity. Instead, his priority is to "continuously improve the liquidity of the order book and reduce the spreads, as this leads to a more efficient market for all participants." It was then guaranteed that all participants, including the market maker, will be "treated equally".
This is another problem with which the stock exchange has to fight. The war that the US stock exchange supervision SEC led against the cryptocurrency sector has also acted on Crypto.com From June 21, the care of institutional customers will be hired.
The case of Coinbase
rumors spread last September in the community also operates that coinbase also.
People whose identity has not been announced, claimed that the stock exchange had stopped in 2021 Wall Street dealers and founded a unit, the purpose of which was to use the company's own means and the use of digital currencies. They added that the department had carried out a 100 million dollar transaction to test the operation. A coin base spokesman contradicted the allegations and confirmed that the group was founded to enable "customer-controlled cryptocurrency transactions" and not to carry out illegal activities. The company's CFO - Alesia Haas - also rejected the claims: "Coinbase is a pure agency platform. We do not operate any self-trade platform."
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