TechFlow news, according to SEC litigation documents against Binance, Sigma Chain, a major market maker for the Binance exchange, is actually owned by CZ and operated by several Binance employees. The logistics manager at Binance also serves as president of Sigma Chain.
After the launch of the Binance.US platform, Sigma Chain became one of its initial market makers. Furthermore, since Binance.US began offering over-the-counter (OTC) trading, conversion trading, and one-click buy/sell (OCBS) services to customers, Sigma Chain has consistently acted as the counterparty to trades executed by Binance.US customers, and at times has been the sole counterparty.
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