Why does Binance continue to allow disgusting/illegal market manipulating behavior on their exchange?

The textbook orderbook spoofing playbook

Massive ~$50m purchase spoof orders, inflicting three% up move and hundreds of thousands in liquidations

Spoof $50m in buys on Binance ETH-USDT spot trading pair, inflicting retail consumers, market making algorithms to pump $ETH by three%, inflicting hundreds of thousands in liquidations.

As the market pumped, the spoof orders are pulled, revealing the whale's true intentions to market individuals. This new info, mixed with some preliminary selling from stated whale, triggered a sequence response during which the market now proceeds to dip a whopping 5%, again inflicting tens of hundreds of thousands of dollars in liquidations.

I have been watching buying and selling knowledge from prime CEXs in crypto and Binance is by far the worst offender.

Why ought to I care? I'm a not a day trader.

Nicely, even in case you are a long run buyers that doesn't care about intraday 5% moves, these actions are hurting your investment. A Bitcoin ETF will never be accepted by the SEC exactly because of reasons like this. 95% of the world still thinks crypto is a rip-off, and can proceed considering so as long as these disgusting, low-life whales sustain with their schemes.

Give it some thought. The 2020-2021 cycle had EVERYTHING going right for it. Elon Musk, Tesla, Saylor, Superbowl advertisements, celebrities, and so forth. And but, for these which were right here since 2017 or earlier, did the cycle not feel underwhelming? I and lots of pals, HF house owners, genuinely assume that basically BTC should have been above $100okay and ETH $6-8k. Now take a look at the state of crypto... Binance banned from a number of major nations, 3AC collapsed, Singapore tightened crypto laws, Russia banning crypto funds, and so forth....

Why ought to Binance care?

Because I'm going to file a grievance in every one jurisdiction they function in.

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