Cryptocurrency exchange Binance is accused of terminating investigators who uncovered alleged market manipulation by VIP client DWF Labs. The Wall Street Journal reported that DWF Labs engaged in wash trading and inflated trading volumes, leading to a $300 million amount through deals with crypto projects. Despite the exchanges surveillance team recommending offboarding the client, Binance supported DWF Labs and dismissed the investigator due to insufficient evidence. Binance denies any involvement, maintaining a strict market surveillance program and a zero-tolerance policy towards market manipulation.

DWF Labs rebutted the allegations, highlighting their commitment to integrity and transparency in operations. Binance's co-founder addressed the issue, questioning the media's reliance on emotions and biases over facts in reporting industry news.

Thailand Web3 Music Festival highlights and NFT ticketing system

The Fansland music festival in Bangkok, Thailand attracted over 30,000 attendees with performances by renowned artists like PSY and Edison Chen. The festival featured a unique NFT ticketing system, where tickets were minted as NFTs on Fansland and allowed access to interactive experiences with Fansland DeFi. Early NFT ticket holders were offered perks like token airdrops and whitelist qualifications for Fansland AI.

Fansland aims to create a decentralized fan economy infrastructure for global music enthusiasts. Last month, the company secured a $10 million funding round led by IME, Linear Capital, and Falablock.

Hong Kong ETFs' asset growth and $128 million liquidity pledge

Hong Kong spot Bitcoin and Ether ETFs accumulated over $310 million in assets since their launch, despite lower asset flows compared to US spot Bitcoin ETFs. Market makers are optimistic about the potential growth of the Hong Kong ETFs, with digital asset managers pledging $128 million to enhance liquidity and market efficiency. LD Capital, Antalpha Ventures, and Highblock aim to provide market-making services to the ETFs to stabilize liquidity and reduce risks associated with fluctuating capital flows.