1. PixelPlaygroundHome
  2. Web3 News

Binance Could Pay the Largest CFTC Fine in History with Just One Month’s Income

• Web3 News • 146 views

According to reports, Dovey Wan, CEO of Primitive Ventures, stated in a tweet that if the settlement between Coin An and CFTC was $1 billion, it would only be a month\’s income for

Binance Could Pay the Largest CFTC Fine in History with Just One Months Income

According to reports, Dovey Wan, CEO of Primitive Ventures, stated in a tweet that if the settlement between Coin An and CFTC was $1 billion, it would only be a month’s income for Coin An. Dovey Wan wrote, “JPMorgan Chase has paid the largest ever CFTC fine of $920 million for misconduct and market manipulation. I think Binance can exceed it, using only $1 billion as a hypothetical figure.”.

Viewpoint: If the settlement fee with CFTC is US $1 billion, it is only one month’s income of Coin An

According to reports, Dovey Wan, CEO of Primitive Ventures, stated in a tweet that if the settlement between Coin An and CFTC was $1 billion, it would only be a month’s income for Coin An. Dovey Wan wrote, “JPMorgan Chase has paid the largest ever CFTC fine of $920 million for misconduct and market manipulation. I think Binance can exceed it, using only $1 billion as a hypothetical figure.”

The Background of Coin An and CFTC Settlement

The CFTC stands for the Commodity Futures Trading Commission in the United States. The CFTC is a regulatory body that oversees and regulates the futures and options markets in the US. The regulatory body was established in 1974, under the Commodity Futures Trading Commission Act.
Recently, the CFTC has been looking into some allegations of market manipulation by an exchange known as Coin An. Reports indicate that Coin An has been under investigation by the CFTC for nearly a year. The allegations state that the exchange has been manipulating prices through fake orders and wash trading.

Dovey Wan Believes Binance Could Exceed JPMorgan Chase’s Fine

Reports state that Dovey Wan, the CEO of Primitive Ventures, believes that Binance, a cryptocurrency exchange, could pay the largest ever CFTC fine in history with just one month’s income. The tweet sent out by Wan has caused quite a stir in the cryptocurrency community, with some supporting her statements and others questioning her logic.
JPMorgan Chase’s recent settlement, which saw the bank pay the largest ever CFTC fine of $920 million, is a case in point. Wan argues that if Coin An were to face a fine of $1 billion, it would only be a month’s income for the exchange.
Wan believes that Binance could exceed JPMorgan Chase’s fine, using only $1 billion as a hypothetical figure. Despite the fact that the CFTC is yet to confirm whether or not they will fine Coin An, Wan’s comments have already subjected the cryptocurrency exchange to further scrutiny.

The Takeaway

The entire cryptocurrency community is watching as the CFTC and Coin An’s investigation unfolds. As for Dovey Wan’s tweet, opinions remain divided. Some members of the community support her comments, while others feel that Wan is making a baseless claim.
It is important to note that the CFTC has not confirmed the fine, and Coin An has not been found guilty of any wrongdoing as of yet. The case serves as a reminder that regulatory bodies will go the extra mile to ensure that investors’ interests are protected.

FAQs

Q: What is Coin An?
A: Coin An is a cryptocurrency exchange.
Q: What is the CFTC?
A: The CFTC is a regulatory body that oversees and regulates the futures and options markets in the US.
Q: What is JPMorgan Chase?
A: JPMorgan Chase is a multinational investment bank and financial services company.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/11027/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/28/2023 18:33
Next 03/28/2023 19:29

Recommended articles