US charges 4 Crypto companies and 14 individuals with market manipulation,#Bitcoindrops sharply

The FBI created a token called#NexFundAIon #Ethereum, tricking price manipulation companies into collecting evidence of crimes.

On October 10, US prosecutors charged four crypto companies including Gotbit, ZM Quant, CLS Global, MyTrade and 14 individuals in connection with a crypto asset price manipulation case.

According to prosecutors, the defendants created multiple crypto companies, misrepresented the potential of certain tokens, and then conducted wash trades to fake trading volumes, thereby making retail investors believe that these tokens were potential.

This is the first time the government has proactively prosecuted companies accused of market manipulation and fraudulent trading in the crypto industry.

Sanjay Wadhwa, deputy director of the SEC's Enforcement Division, warned that investors need to be wary of unrealistic promises of returns in this market.

In the crypto market on October 10, $BTC fell more than 2.5%, from $62,300 to $60,500. Dominance - the dominance rate of $BTC also decreased to 56.6%.

Despite being called Uptober, the market has been trading inactively in the first week, will there be a reversal before the end of October?