It has been claimed that Singapore-based popular cryptocurrency exchange Crypto.com employs market maker teams within the company.
Familiar with the subject recently presented by the Financial Times (FT) to 5 sources In the news based on, internally within Crypto.com market constructive teams He claimed to be running it for profit trading. FT also stated that Crypto.com runs teams within its body to provide extra liquidity on their order books to keep the boards full.
Sources indicate that the cryptocurrency exchange has given external market makers and crypto trading institutions in the past. in sworn statements of Crypto.com in no way involved in these market maker operations. He stated that he was not included. Crypto.com allegedly their own employees urged them to make statements that they do not have an internal market maker.
The Crypto.com front, which made a statement after the developments, asked other market participants from employees. they don’t want them to lie argued. However, the exchange does not deny that they have internal market makers and that they treat these market makers in the same way as third-party market makers and there is no bias suggested:
We have an internal market maker operating on the Crypto.com exchange, and this internal market maker is treated exactly the same as third-party market makers who equally facilitate tight spreads and efficient markets on our platform. This is not a controversial practice.
SEC chief warned
Despite trying to soften the allegations made in the statement, the US Securities and Exchange Commission (SEC) Binance And to Coinbase opened lawsuits This information, which emerged under the shadow of this, brought to mind the thought that a lawsuit could be filed for Crypto.com.
SEC Chairman, who made a statement about an exchange’s unlawful conduct of multiple activities Gary Genslerused the following expressions, which can be adapted to the situation of Crpyto.com:
Calling themselves stock markets, these trading platforms perform a number of functions together. In traditional finance, we don’t see the New York Stock Exchange operating and making markets at the same time as a hedge fund.