Radix Trading is one of three quant firms named in CFTC lawsuit against Binance

Chicago-based trading firm Radix Trading claims to be the unidentified “Trading Firm A” mentioned in Monday’s lawsuit against Binance by the U.S. Commodity Futures Trading Commission (CFTC), The Wall Street Journal reported. In the lawsuit, the CFTC cited at least three U.S.-based quantitative trading firms as active on Binance, even though U.S. clients should have been barred from trading on Binance. Radix, which has traded on Binance for several years through offshore affiliates and prime brokers that provide access to the exchange, has been legally vetted for everything it does with crypto connections, said Radix co-founder Benjamin Blander. Blander also said he does not believe Radix, which had been cooperating with the CFTC before the agency's lawsuit, was the target of the investigation.