Share this article
CFTC Demands Crypto Exchange Data In Market Investigation
The U.S. regulator has subpoenaed four crypto exchanges to submit trading data as part of an investigation into market manipulation.
By Wolfie Zhao
Updated Sep 13, 2021, 8:02 a.m. Published Jun 11, 2018, 11:00 a.m.
Make us preferred on Google
The U.S. Commodity and Futures Trading Commission (CFTC) has reportedly subpoenaed four cryptocurrency exchanges in a bid to obtain their trading data as part of an investigation into market manipulation.
According to a The Wall Street Journal report on Friday, the financial market regulator is demanding comprehensive trading data from Bitstamp, Coinbase, itBit and Kraken, which altogether serve as a base for the bitcoin futures price listed by CME Group.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Citing sources familiar with the matter, the WSJ said the subpoena was issued because the CFTC was "upset" that CME had not succeeded in negotiating with the exchanges for access to their trading data.
The exchanges rejected the request initially, calling it "intrusive," according to the report. Although the exchanges in the end did submit some trading data, their compliance only came after CME had compromised by limiting the range of its access from a full-day's activity to just a few hours, and to limited market participants.
According to the report, the failure irked the CFTC, which supervises CME and gave it the green light in December 2017 to list bitcoin futures.
"All participating exchanges are required to share information, including cooperation with inquiries and investigations," said a CME spokeswoman in the report.
News of the investigation first emerged on May 24, indicating that the U.S. Department of Justice had launched a probe into illicit trading practices in the crypto market in conjunction with the CFTC.
According to that report, the government agencies are investigating traders that may have influenced the bitcoin market through old-school tactics such as sending large numbers of fake orders.
Bitcoin and US dollar image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
