encryption Financial Service company MyTrade founder admits to market manipulation and conspiracy to commit fraud

Golden Finance reported that according to an official announcement from the US Department of Justice, the founder of the Financial Service company 'MyTrade', Liu Zhou, admitted to market manipulation and conspiracy to commit fraud. Judge Angel Kelley of the US District Court is scheduled to pronounce judgment on February 27, 2025. The Department of Justice stated that MyTrade provides Financial Service to cryptocurrency clients through its 'MyTrade MM' website and online application. These services include Whipsaw trading of clients' cryptocurrencies on multiple cryptocurrency exchanges. MyTrade MM has been instructed to cease providing 'volume support' services and permanently disable its Whipsaw trading bots, which conduct Whipsaw trades worth millions of dollars daily for approximately 60 different cryptocurrencies. MyTrade MM is also required to add the following disclaimer to its website: 'Volume support is a type of Whipsaw trading, which is considered illegal under US law.'