$XRP
#CanadaSOLETFLaunch The US court has issued a final ruling against CLS Global for manipulation in the crypto market
AI Summary
According to PANews, the US District Court in Massachusetts has issued a final ruling against the UAE-based company CLS Global FZC LLC. The court found that CLS Global manipulated the price of the cryptocurrency asset 'NexFundAI' by creating a false active trading market, misleading retail investors regarding the purchase of the asset. CLS Global has agreed to pay a fine of $425,000 along with applicable interest and is required to cease business activities with individuals or organizations related to the US.
Earlier this year, it was reported that crypto market maker CLS Global pleaded guilty following an undercover operation and investigation by the FBI.
