May 9, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Wall Street Journal article that says Binance fired an investigator who uncovered evidence of market manipulation at DWF Labs, one of the exchange's clients.

Video transcript

Finance fires an investigator after uncovering market manipulation according to reports and meme coin Bowden pumps on Trump's comments. You're watching Coin desk daily, I'm your host, Jen Sani Binance fired the investigator who uncovered market manipulation at its client DWF. That's according to a report by the Wall Street Journal, the former staff member and his colleagues on Binance market surveillance team had been hired to wrinkle out signs of market manipulation and identified manipulations of various tokens by DWF labs. The team that VIP clients, those trading more than $100 million per month were engaging in pump and dump schemes and was trading that were prohibited by B's terms and conditions. That's according to the Wall Street Journal article. The Wall Street Journal cited interviews with B employees past and present documents, emails and other industry participants. Robin had reported a strong first quarter earnings yesterday as a surge in crypto trading fueled a 40% year on year increase in revenue, leading some analysts to upgrade their earnings estimates and price targets. KBW raised its price target to 2150 from $20 while maintaining its market perform rating while J MP raised its price target to $30 from 28 and reiterated its market outperform rating. The shares were at around $19 as of 9:30 a.m. Eastern time, they've gained over 50% on the year. We of course, recently found out that the sec has served Robin Hood crypto a wells notice and are waiting for more information there. And Bowden a meme coin referring to a misspelling of us President Joe Biden's name surged as much as 25% on Wednesday after his Republican challenger, former President Donald Trump responded to a fan's question about it. Trump was hosting the Trump Cards NFT Gala for holders of the digital Collective at his Mar a Lago resort. And after an attendee described Bowden to him, he said, quote, I don't like that investment and quote, Bowden peaked at 42 cents and is now trading at around 35 cents up 18%. That's it for coin desk daily. Get more updates on and we'll see you next time.

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