Due to the sensitive and/or legal subject matter of some of the content on globalnews.ca, we reserve the ability to disable comments from time to time.companies and 14 individuals have been charged in what U.S. prosecutors on Wednesday called the first criminal prosecution of financial services firms for market manipulation and sham trading in the
Prosecutors accused the defendants of engaging in the crypto equivalent of stock market “pump and dump” schemes that involved sham trades to artificially inflate the trading volume of various cryptocurrency tokens before selling them off. Others charged were Aleksei Andiunin, the chief executive of Gotbit, a cryptocurrency “market maker” who lived in Russia and Portugal. He was charged along with two of his company’s employees in Russia and could not be reached for comment.For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.