Radix Trading Reveals It is “Trading Company A” in CFTC Lawsuit Against Coin An

03/29/2023 22:22 • Daily Digest • 62 views

According to reports, Chicago based trading company Radix Trading said it was the unidentified “trading company A” mentioned in the U.S. Commodity Futures Trading Commission (CFTC) lawsuit against Coin An on Monday. In the lawsuit, CFTC mentioned at least three quantitative trading companies headquartered in the United States. Although U.S. customers should have been banned from trading on Coin On, the three exchanges are still active in Coin On. Benjamin Blander, co founder of Radix, said that Radix had been trading on Coin Security through its offshore subsidiary and a major broker for several years, and that everything about the company’s encrypted connections had been subject to legal review. Blander also stated that Radix was cooperating with the CFTC before the prosecution, and he did not believe that Radix was the target of any investigation.

Radix Trading is one of the three quantization companies mentioned in the CFTC lawsuit against Coin Security

Introduction: Understanding the Recent CFTC Lawsuit Against Coin An

The Commodity Futures Trading Commission (CFTC) recently filed a lawsuit against Coin An, a cryptocurrency exchange that allowed trading by U.S. customers despite a legal ban on such transactions. The lawsuit mentioned at least three “quantitative trading companies” that are headquartered in the United States but still active on the platform. One of these companies, identified only as “trading company A,” has been revealed to be Chicago-based firm Radix Trading.

Who is Radix Trading?

Radix Trading is a quantitative trading company that uses algorithms to make fast and automated trading decisions in financial markets. The company was founded in 2010 by two traders, Benjamin Blander and Ari Rubenstein, who had previously worked at Citadel and DRW Trading, respectively.

Radix Trading’s Role in the CFTC Lawsuit Against Coin An

In a public statement, Radix co-founder Benjamin Blander confirmed that the company was indeed “trading company A” referenced in the CFTC lawsuit against Coin An. According to Blander, Radix had been trading on the Coin An platform for several years through its offshore subsidiary and a major broker. The company’s encrypted connections with the exchange had been subject to legal review, according to Blander.

Cooperation with CFTC

Despite being implicated in the lawsuit, Blander stated that Radix was cooperating with the CFTC before the prosecution and did not believe Radix was the target of any investigation. However, the CFTC has not yet commented on the cooperation level of Radix.

Conclusion

The CFTC lawsuit against Coin An and the involvement of Radix Trading demonstrate the importance of regulatory compliance in the world of cryptocurrency trading. Companies that choose to operate in this space must ensure that they follow all laws and regulations to avoid legal consequences.

FAQs

Q: What is a quantitative trading company?

A: A quantitative trading company uses computer algorithms to execute trades in financial markets.

Q: What is the CFTC?

A: The Commodity Futures Trading Commission is a U.S. government agency that regulates the derivatives markets, including futures and options on futures.

Q: Why did the CFTC file a lawsuit against Coin An?

A: The CFTC filed a lawsuit against Coin An because the exchange allowed U.S. customers to trade cryptocurrencies despite a legal ban on such transactions.

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