SEC and DOJ charge crypto financial services firms and developers for wash trading

Billing themselves as market makers, the alleged fraudsters were in the business of illicit wash trading and promotion.

The SEC has filed charges against three crypto financial services companies: ZM Quant, Gotbit and CLS Global, alleging that they manipulated crypto markets.

The DOJ also criminally charged those firms and their leaders, alongside a fourth firm, MyTrade. The DOJ also charged crypto developers and their companies who facilitated the

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