Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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In most normal markets, market making and prop trading are done by independent companies. One of the reasons the SEC is mad at Binance is that they allege Binance’s entities may have manipulated crypto markets.
Also:
One of the people with direct knowledge about the teams said that Crypto.com executives gave other, external trading houses “absolutely dramatic sworn statements that Crypto.com was in no way involved in trading”, while another said that employees were asked to “say there is no internal market maker type operation.”
In response to questions from the Financial Times, Crypto.com said that employees had not been asked to lie to other market participants.
[FinancialTimes]
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