Radix Trading Claims To Be One Of The Unnamed Firms In The Lawsuit Against Binance
- Chicago-based Radix Trading claims to be “Trading Company A” mentioned in the CFTC’s Binance complaint.
- Radix has been trading on Binance for the past few years using overseas branches and a primary broker that provides access to the exchange.
- The CFTC’s lawsuit against Binance and CEO Changpeng Zhao has documented at least three US-based quant firms operating on the exchange.
Radix Trading, a Chicago-based quantitative trading firm, has identified itself as one of the unnamed US firms described in the CFTC’s lawsuit against Binance.
In a statement to the WSJ, Radix Trading identified itself as “Trading Company A” anonymously mentioned in the US Commodity Futures Trading Commission (CFTC) complaint against Binance on Monday.
In the lawsuit, the CFTC talked about at least three U.S.-based quantitative trading firms operating on Binance even though American customers are reportedly barred from trading there.
According to a spokesperson for Radix co-founder Benjamin Blaander, it has been trading on Binance for the past few years using overseas branches and a primary broker that provides access to the exchange.
“We got legal vetting on anything we did in terms of crypto connectivity,”He said.
Blander told the newspaper that his company had cooperated with the CFTC before the lawsuit and insisted Radix Trading was not the target of any investigation.
As previously mentioned by Coincu, on the evening of March 27, the CFTC withdrew from suing Binance and CEO Changpeng Zhao for allegedly violating regulations on trading organizations and derivatives trading. The US Asset Futures Trading Commission wants the court to impose administrative sanctions on Binance, a permanent ban on trading and account registration, as well as other penalties for repeat violations.
By dawn on March 28, Binance CEO Changpeng Zhao had posted a response to the CFTC’s allegation on the company’s blog. Accordingly, CZ considers that the legal action the agency is taking against its organization is disappointing and flawed.
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