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International Business Times
International Business Times
Business
Marvie Basilan

US Charges Crypto Market Makers, Including Gotbit, For 'Wash Trading,' Market Manipulation

Crypto ZachXBT DOJ Feds Google Play Store
The Feds unveiled charges against four crypto market makers, including Gotbit, which has repeatedly been called out by prominent industry sleuth ZachXBT. (Credit: Bybit/flickr.com)

KEY POINTS

  • ZM Quant, CLS Global, MyTrade, and Gotbit allegedly engaged in token 'wash trades'
  • Four defendants have already pleaded guilty, the DOJ said Wednesday
  • ZachXBT previously called out Gotbit for its 'highly questionable' market making offerings

Feds announced charges Wednesday against four cryptocurrency market makers and over a dozen individuals for alleged "wash trading" and market manipulation in the crypto industry.

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