Such claims have been made by several commentators, including analyst Dylan LeClair and Swan Bitcoin CEO Cory Klippsten, who have accused Binance of deliberately manipulating the market to artificially inflate the value of BNB. <br
The Skew platform also accused Binance of manipulating the market through a series of transactions involving BTC, BNB and USDT.
In his tweet, Changpeng Zhao said that Binance did not sell its crypto-assets or BTC. He added that the site is still storing tokens from the bankrupt crypto exchange FTX.
<blockquote
“It’s amazing that they can know exactly who sold based only on a price chart involving millions of traders,” he added.
In response to Zhao’s message, analysts called on Binance to release a statement proving that Binance has not manipulated the market.
On June 5, the SEC sued Binance.US for alleged violations of securities laws. Binance denies any wrongdoing and says it will “vigorously” oppose the allegations made against the exchange in court.
The U.S. division of cryptocurrency exchange Binance has already hired a lawyer who worked for the SEC from 2009 to 2014. To work on the lawsuit, George Canellos led a team of attorneys specializing in litigation and arbitration. He previously served four and a half years as director of the SEC’s Division of Enforcement and oversaw major cases.
Meanwhile, former SEC official John Reed Stark believes there is a possibility of criminal charges being filed by the U.S. Department of Justice against Binance executives.