Crypto.com market make themselves on the exchange while it told employees to deny the existance of an inhouse market maker and to deny they trade on their own exchange.

Exchanges that market make themselves are dangerous to users as it’s easy for them to hunt your stops. What makes this situation weirder is that crypto.com basically instructed its employees to lie and say they don’t trse on their own platform.

Crypto.com said: “We have an internal market maker that operates on the Crypto.com exchange and that internal market maker is treated exactly the same as third-party market makers that identically facilitate tight spreads and efficient markets on our platform.”

While some others claim that

Crypto.com executives gave other, external trading houses “absolutely dramatic sworn statements that Crypto.com was in no way involved in trading”, while another said that employees were asked to “say there is no internal market maker type operation”.

Source: https://www.ft.com/content/b5d2bf4b-225c-4f30-9f1c-cbe8dc762fa8