Binance co-founder and DWF Labs speak out against market manipulation allegations

Both firms deny any involvement in the allegations brought forth by The Wall Street Journal.

Amid new allegations of market manipulation brought by The Wall Street Journal, both Binance co-founder Yi He and market make DWF Labs have denied any involvement. 

In an X post on May 9, He described the media report as an occurrence that “greatly increased our exposure and saved us a lot of marketing budget.” However, the co-founder denied any of the allegations made against Binance, writing: 

In a similar post the same day, DWF Labs said the allegations were “unfounded and distort the facts” and that the firm “operates with the highest standards of integrity, transparency, and ethics, and we remain committed to supporting you and our over 700 partners across the crypto ecosystem.” 

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