Binance Co-Founder Yi He Responded to WSJ Claims!

WSJ In today’s news, he claimed that Binance detected that popular market maker DWF Labs was engaged in market manipulation.

WSJ, which based this news on the statements of a former Binance employee, reported that Binance researchers will launch DWF Labs in 2023. He claimed to have manipulated the price of the Yield Guild Game (YGG) token and at least six altcoins.

While DWF Labs X denied WSJ’s claims, a Binance spokesperson also denied the news and told Cointelegraph:

“Binance categorically denies any allegation that its market surveillance program allows market manipulation on our platform. We have a robust market surveillance framework that detects and acts against market abuse. Any users who violate our terms of use will be excluded; “We do not tolerate market abuse.”

Sarcastic Thanks to WSJ from Binance Co-Founder Yi He!

A reaction to WSJ’s manipulation allegations Binance co-founder Yi He’came from Yi He, who denied the allegations from the X account and stated that they had no privileged actions against any fund, said the following:

“We are watching market makers closely. We do not target any particular fund or market maker.
However, competition among market makers is great and fraudulent behavior is abundant.

Anyone who wants can pay money to advertise, but don’t bother with me.

“We will ensure our own fairness and will not participate in such games, and will continue to report honestly to auditors and other regulatory authorities.”

Yi He made another statement after this post.

Yi He stated that WSJ is consistently targeting Binance. “I thank WSJ for its long-term investment in Binance. Because WSJ has been reporting about us consistently for a long time. I am grateful to WSJ for promoting Binance and saving us on advertising budget. However, while making such news, WSJ did not report that Binance assisted law enforcement and assisted in the arrest of Zkasino’s main culprit. “This shows that the WSJ acts with bias.” said.

#Binance #BNB #Bitcoin #BTC #Crypto
People are inevitably influenced by their own culture, background, and biases. I am very grateful to the WSJ for their consistent and long-term devotion to Binance, which has greatly increased our exposure and saved us a lot of marketing…

— Yi He (@heyibinance) May 9, 2024