Binance Takes Action Against Market Maker Amid Irregularities
Mar 10, 2025, 8:25 a.m.
5 sources
In a decisive move, Binance has removed a market maker implicated in irregularities related to GoPlus Security (GPS) and MyShell (SHELL). Following an internal investigation, Binance banned the market maker, ensuring its users' protection and maintaining market integrity by forfeiting associated revenues to compensate affected users. The exchange emphasized the importance of adhering to market-making principles to prevent future disruptions. Specific compensation details will be announced by the respective projects later.
GPS
The removal of the market maker could stabilize GPS prices as irregular activities are curtailed.
SHELL
Market maker's delisting may lead to price stabilization for SHELL following potential past manipulation.
Sources
JUST IN: Important Statement from Binance About Two Altcoins – Part of Users’ Losses May Be Refunded
Bitcoin Sistemi
09.03.2025 10:23
Binance shuts down GPS & SHELL market maker over misconduct, affected users to be compensated
crypto.news
10.03.2025 04:25
Binance Bans Mystery Market Maker for GPS and SHELL Over Misconduct
Beincrypto
10.03.2025 07:55
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