Justice Department May Charge Crypto Exchange Binance With Fraud: Report

A legion of Twitter bots pumped the price of crypto tokens traded by Sam Bankman-Fried’s quant trading firm Alameda Research shortly after FTX listed the tokens, according to a report from the Network Contagion Research Institute. NCRI, an institution that studies cybersecurity and social-media threats, published a report on Wednesday that shows that “inauthentic chatter” on Twitter, now X, heavily influenced the prices of five FTX-listed tokens traded by Alameda insiders. The coins were BOBA, GALA, IMX, RNDR and SPELL. Fake tweets regarding the coins surged — by as much as 30% in some cases — after FTX officially listed them, with “inauthentic” comments eventually comprising roughly half of all Twitter posts about the tokens.