U.S. Court Holds CLS Global Responsible for Crypto Market Manipulation

The U.S. District Court in Massachusetts has delivered a final verdict against CLS Global, an UAE-based entity, concluding that it manipulated the price of ‘NexFundAI’ cryptocurrency through a fabricated trading market. This deception led to retail investors purchasing the asset under false pretenses, according to reports from PANews. CLS Global has been ordered to pay $425,000 in fines, interest, and cease business operations within the U.S., involving any individuals or entities affiliated with the country.