A former Binance business development staff member, identified as Chase, has made public allegations of widespread and overt market manipulation within the cryptocurrency industry. In a YouTube interview with Yuzheng Sun, Chase claimed that crypto asset prices are primarily driven by three factors: liquidity, market attention, and token distribution structure. He argued these elements dictate price movements over short to medium-term periods, ranging from 7 days to 3 months.
Chase further contended that the market lacks a long-term vision and is predominantly focused on securing short-term profits, suggesting that manipulation is a common and visible practice. These comments have sparked significant discussion regarding market integrity and the influence of exchange insiders.
In response, Binance co-CEO Yi He issued a clarification regarding Chase's role and authority. She stated that Chase worked solely in business development and had no involvement or authority in the exchange's token listing processes. This statement appears to be an effort to distance the exchange's core operations from the employee's claims and to address potential concerns about insider influence on asset valuations.
