The US SEC files market manipulation charges against three crypto market makers: ZM Quant, Gotbit, and CLS Global

According to ChainCatcher, as reported by Financefeeds, the U.S. Securities and Exchange Commission (SEC) has filed market manipulation charges against three crypto market makers—ZM Quant, Gotbit, and CLS Global. The SEC alleges that these three companies used algorithms to conduct fake trades, artificially inflating trading volumes and deceiving retail investors. At the same time, the SEC has also charged nine individuals, including promoters and company employees, accusing them of hiring manipulation services and executing meaningless trades, thereby violating the anti-fraud and registration provisions of securities law.