As part of its effort to expand its market presence and drive the next generation of Web3 ecosystem, Credefi Finance has collaborated with DWF Labs. In a Tuesday blog post, the firm confirmed the development, stressing that the collaboration efforts will focus on improving liquidity and providing support for its growth.
DWF Labs plans to put its rich industry resources into use to help Credefi Finance to enhance its market appeal. Also, the partnership centers around developing advanced liquidity solutions and strategic market making to foster a stable trading atmosphere for Credefi’s native token, $CREDI.
More so, the firm aims to provide strategic insights and operational assistance to drive innovation within the Credefi ecosystem.
According to Ivo Grigorov, CEO of Credefi Finance, the strategic collaboration presents a strategic alignment of the firm’s ambitious goals with DWF labs. Grigorov describes DWF Labs as a renowned global asset market maker with a vast experience in the industry. He added that Credefi will leverage the unparalleled expertise provided by the firm to drive the development of its ecosystem. With that, the CEO believes both firms are poised to spearhead significant advancements in the RWA landscape.
Likewise, Andrew Grachev, the managing director of DWF Labs also shared insights into the partnership. Describing Credefi as a key player in the RWA sector, Grachev affirmed the support of its firm in ensuring the development of Credefi’s offerings. The exec affirmed DWF’s commitment to Credefi goes beyond providing liquidity but also to equip the platform with the tools and resources to excel in the market.
Binance denies $300 million wash trading allegation involving DWF Labs
Meanwhile, this development comes amid allegation of a $300 million wash trading involving DWF Labs and Binance. According to a report by WSJ, DWF Labs engaged in wash trading by allegedly manipulating YGG and six other tokens. Binance, in a response, denied aiding DWF to engage in such act, emphasizing its zero tolerance for market abuse.
Binance also insisted that its surveillance program is strong enough to spot and eliminate any suspicious market manipulation attempts.
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