Unlawful practices hit top cryptocurrency exchanges, including Binance306

The most recent market surveillance report from the Blockchain Transparency Institute claims that Binance, the world’s biggest cryptocurrency exchange by trading volume, shows signs of wash trading.

The Blockchain Transparency Institute (BTI) is a group of blockchain data researches who aim to bring more transparency to the cryptocurrency market. The Institute spent the last four months working on a new algorithm that is designed to identify individual accounts on cryptocurrency exchanges that are involved in wash trading, a process where traders buy and sell securities for the express purpose of feeding misleading information to the market.

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