Crypto: Binance Tightens Market-Maker Rules in Transparency Push

Binance, the world's largest cryptocurrency exchange, has issued new guidelines requiring token issuers to disclose their market maker's identity, legal entity and key contract terms. The exchange is prohibiting profit-sharing and guaranteed-return arrangements between projects and market makers, arguing these deals can create incentives that undermine fair trading. Token lending agreements must also spell out how borrowed tokens may be used. Binance highlighted several warning signs it will monitor, including selling ahead of token unlock schedules, one-sided sell pressure, wash trading marked by high turnover without meaningful price movement, and coordinated selloffs across multiple venues. Projects and market makers found in breach risk being blacklisted.