US SEC Investigates Futu and Tiger Brokers for Alleged Insider Trading

CoinFeed reported on July 2nd, according to The Straits Times, the US Securities and Exchange Commission is investigating allegations by market maker Susquehanna: Unknown traders heavily bought related US stock options before Chinese regulators announced a crackdown on cross-border brokers Futu Holdings and Up Fintech (Tiger Brokers) on May 22nd, making a profit of at least $100 million with just about $12 million, while Susquehanna itself lost over $70 million. At its request, a US court has frozen assets of suspected related accounts on Interactive Brokers, Futu, and Up Fintech platforms, and allowed subpoenas to require these platforms to disclose the identities of the actual account holders.