The organization behind the movement network said that it will use $ 38 million that has been recovered from the market maker to buy distinctive symbols during the next three months.
On March 24, Movement Network Foundation He said About 38 million dollars of assets from the market maker in charge of providing liquidity on the purchase and sale orders (Move) has regained the distinctive symbol on Binance.
Binance Out of it Market maker due to “market violations”. The stock market faced the market maker, freezing its revenues and banning it from the additional market making activities.
Market makers provide liquidity for encryption symbols to attract traders and stabilize their prices. These entities are assigned to provide liquidity on both purchase and sale orders to ensure the smooth operation of the exchange of encryption.
According to Binance, Market Maker sold 66 million transport symbols after the distinctive symbol was included, with “little” placement in purchase orders. These deals recorded 38 million dollars from Tether (USDT) from their trading. Bennes said that she frozen profits and informed the movement network institution of the incident. The Foundation said that it “cut all relationships” with the market maker and regained frozen money from the procedures of the rogue market maker, which it said would be used in the re -purchase program: “All the cash revenues that are recovered from the market maker will be used by the movement's network to create the strategic reserve of movement: the re -purchase program of $ 38 million to buy a $ movement for long -term use and re -liquidity of USDT to the movement's ecosystem.” The organization also shared a wallet address for “Resporte Strategic Reservation”, which will be transferred to purchased symbols. Related to: Binance is not “Solan” and other property of the distinguished symbol – spokesperson for The accident is followed by another measure against a market maker on the stock exchange. On March 9, Binance announced it was Out of it Goplus Security and MyShell Projects. The Stock Exchange said it had confiscated the project revenues and would set a compensation plan for its users. Aside from the market makers, the stock exchange recently commented on an alleged trading employee. On March 25, Binance launched an investigation into a member of the Binance Wallet team after receiving a complaint that the employee was running forward. https://www.youtube.com/watch? magazine: Fatee “Chinese mint” encryption fraud, Japan diving in Stablecoins: Asia Express
The movement network commits 38 million dollars for the re -purchase of the distinctive symbol
Binance looking at market violations
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