Published Jul 25, 2023 07:47© ReutersBTC/USD +0.88% Add to/Remove from a Portfolio BTC/USD +0.88% Add to/Remove from a Portfolio BLK -1.01% Add to/Remove from a PortfolioThe situation is getting worse for , with the cryptocurrency dropping to a low of $28.931 on Monday afternoon, and standing at $29.150 at the time of writing. Note that this weakness in BTC appeared to be in response to a Wall Street Journal article about Binance. Bitcoin falls as WSJ accuses Binance of wash tradingIndeed, the WSJ revealed that Binance CEO Changpeng "CZ" Zhao suggested in a private conversation that affiliates of the crypto-currency exchange had engaged in "wash trading" several years ago. This practice involves trading an asset with oneself or an affiliate. Last month, the Securities and Exchange Commission sued Mr Zhao and Binance.US, alleging that a company he controlled had inflated trading volumes.

Source: Wall Street Journal July 25, 2023 07:22 UTC