What Is the Difference between “Insider Trading” and “Market Manipulation” in Crypto?
Insider trading involves trading based on material, non-public information (e.g. a known CEX listing). The offense is the unfair informational advantage.
Market manipulation involves intentional, deceptive acts designed to artificially affect the price of an asset (e.g. wash trading, spoofing, or pump-and-dump schemes). While front-running can be a form of manipulation, insider trading is about who is trading with what knowledge , and manipulation is about how the trading activity deceives the market.