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

Washing machine full of money
Photo: Antonio Ciufo

Alexander Barzacanos

2 min read
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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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