was just hit with a 150 mil lawsuit in California court. Charges include market manipulation, racketeering, unlicensed securities sale and more.
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conducted an "attack" on Binance's newly launched futures market on Sep 15, 2019. Unfortunately for FTX, Binance prices according to an index, and no positions were liquidated.
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Bitcoin Manipulation Abatement LLC, the plaintiff, is seeking 150 mil in exemplary and punitive damages.
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Lol, whomever put this complaint together threw in this picture to show what a "bart" formation is.
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The crux of the plaintiff's argument is that FTX used its position to manipulate BTC prices using momentum ignition algos, with the goal of creating liquidation cascades. After rapidly moving prices, Defendants used multiple loser accounts to benefit a winner account.
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Short and sweet. Everyone is trying to get an edge anyway. When you're one of the most successful at doing so, obviously, some people will come at you.
I only had a feeling of professionalism when dealing with Sam and the extended team of FTX during our AMA.
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