Tether on Strings? Crypto Debates Fresh Round of Manipulation Claims

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Tether on Strings? Crypto Debates Fresh Round of Manipulation Claims

Wed Jul 04, 2018 12:33 pm

As they say, shots were fired.

An investigative article raising concerns about possible market manipulation of tether has sparked a social media firestorm, with the dollar-pegged cryptocurrency's detractors, supporters and seemingly everyone in between weighing in.

In an incendiary take on an already controversial topic, Bloomberg analyzed tether trading data from the Kraken crypto exchange and found several "red flags," as the headline described them.

Complete with colorful annotated charts and interactive data visualizations, the article published Friday sought to characterize the market for tethers, also known as USDT, as defying the laws of supply and demand, going so far as to say it is suggestive of wash trading – a maneuver "in which cheaters trade with themselves to create a false impression of market demand."

Some hailed the data analysis, which pulled from more than 56,000 trades on Kraken over a period of eight weeks, as a "deep dive into suspicious trading patterns," and a prime illustration of "why institutional money is staying out of the market."


https://www.coindesk.com/tether-on-stri ... on-claims/

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