- Binance offered a market manufacturer who dumped 66 million moved symbols.
- The Movement Network Foundation announced a $ 38 million repurchase program to support its system.
Leading Crypto Exchange Binance made an announcement today that it offered a market manufacturer. The platform identified a marketing manufacturer for the operating recruitment project that has ties with another market creator who is accused of misunderstanding.
According to the latest message On Tuesday, the above -mentioned market manufacturer dumped about 66 million Move -tokens one day after the relocation list at Binance. This provided a net profit of about $ 38 million. The Binance platform identified and offered this market manufacturer on March 18.
Market manufacturers are crucial for trade purposes to maintain liquidity. They ensure that purchase orders meet sales orders and vice versa to improve easy trade. Market manufacturer quotation buys prices called bidd prices and sales prices called question prices.
The accused market manufacturer would place orders for both bids and ask prices. But it placed sales orders for 66 million relocation while they placed some purchase orders. This is called one -sided market production and is considered illegal. Therefore, Binance took this action against the marketing creator and also prohibited it from doing additional marketing activities on the platform.
With reference to the question, wu blockchain reported The fact that the marketing manufacturer involved in the move is web3port. And its investments include puffer, Uxlink, Bitlayer.
Market manufacturers must comply with the binance principles
Apart from the announcement, Binance also clarified all the principles and rules that market creators must follow to work on their platform. Making orders for both bids and asking and ensuring adequate order sizes within specific depth levels is crucial. Binance also made it compulsory for market manufacturers to maintain a healthy bid-box dissemination and prevent market disruptions.
“All project -trained market manufacturers who do not meet or violate such principles and rules will take additional measures against such market manufacturers to best protect our users.”
On the other hand, the Movement Network Foundation decided to establish an “operating strategic reserve.” This is one 38 million USDT -repurchase Programs to buy relocation to support the movement ecosystem.
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