The CFTC’s lawsuit against Binance and CEO Changpeng Zhao has revealed one of 3 US companies that are active despite being banned from trading on the stock market.
One of the companies alleged to have made illegal transactions in the Binance case has been revealed
On March 27, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its directors for transaction violations. The CFTC’s lawsuit against the leading exchange has registered at least three U.S.-based quantitative firms that are active on the exchange despite receiving a ban.
The identity of one of these companies was revealed today. Chicago-based Radix Trading said it was the unidentified “Trading Firm A” mentioned in the CFTC’s complaint against Binance on Monday, the Wall Street Journal reported.
Radix founder reported that the transactions in question were made under legal scrutiny
Chicago-based Radix Trading said it was one of three US-based quantitative trading firms announced in relation to the Binance lawsuit. The CFTC-Binance lawsuit mentioned at least three companies that trade on Binance even though American customers are prohibited from trading.
Radix co-founder Benjamin Blander said that his company has been trading on Binance for several years through its offshore affiliates and a master brokerage, and that we “have legal approval in everything we do regarding any crypto connection.”
Blander told the Wall Street Journal that his companies had cooperated with the CFTC prior to the lawsuit and that he believed Radix was not the target of any investigation. Radix’s role in the crypto industry is not well known to the Chicago trading community or the crypto industry. Its co-founder, Michael Rauchman, previously held a senior role at the now-defunct Getco, one of the pioneers of high-frequency trading.
Binance and CZ under scrutiny for ‘regulatory breaches’
The US Commodity Futures Trading Commission (CFTC) alleges that Binance does not comply with US law and continues to offer crypto derivatives trading (Forward, futures, swaps and options) to US citizens.
The lawsuit states that Binance has developed a “private trading platform designed to trade in a prohibited market in the US” and has “no real-world authentication that limits or prevents options” allowing US customers to trade.
cryptocoin.com As we quoted, CFTC chairman Rostin Behnam stated that they were ready to present ‘clear evidence’ in the Binance case. The global exchange, which has a US subsidiary as Binance.US, has created a system to hide its real access and operations, according to the CFTC. In recent developments, it has been determined that one of the companies named in the case file, allegedly involved in confidential transactions, is Radix Trading.
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