TechFlow News, according to Decrypt, the U.S. Department of Justice has filed market manipulation charges against four cryptocurrency firms and their相关人员. The companies—Gotbit, ZM Quant, CLS Global, and MyTrade—are accused of manipulating markets through "wash trading" to lure investors into "pump-and-dump" schemes. As part of its investigation, the FBI created a fictitious token called NexFundAI to expose these illicit activities. The U.S. Department of Justice also stated that Gotbit, its CEO, and two directors carried out a similar scheme. Gotbit describes itself as a hedge fund and meme coin market maker. In separate civil charges, the Securities and Exchange Commission (SEC) alleged that Gotbit provided "on-demand market manipulation" by "essentially trading crypto assets with itself," thereby "generating fake daily trading volumes, often reaching millions of dollars."
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