Binance Co-Founder He Yi Denies Allegations of Futures Data Manipulation

He Yi explains Binance’s mark price mechanics, rejecting claims of K-line data alteration and citing internal operations as cause of a recent incident.

Summary

Binance co-founder He Yi addressed concerns over alleged data manipulation, clarifying that the exchange employs a 'mark price' mechanism to avoid unfair liquidations. She explained an internal incident involving accidental operation, which had minimal impact on historical orders.

Terms & Concepts
  • Mark Price: A reference price calculated from multiple sources, excluding extreme values, used in futures trading to prevent unfair liquidations.
  • K-line Data: Candlestick chart data representing price movements over specific periods, commonly used in crypto and stock market analysis.
  • Liquidation Mechanism: A system that determines when leveraged positions are closed due to insufficient margin, designed to protect both traders and exchanges.