Researchers found Tether and Bitfinex manipulated Bitcoin prices – Bitcoints

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Published on June 13th, 2018 | by bitcoin

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Researchers found Tether and Bitfinex manipulated Bitcoin prices

Researchers found Tether and Bitfinex manipulated Bitcoin pricesTo do that, the person or people used a secondary virtual currency, known as Tether, which was created and sold by the owners of Bitfinex, to buy up those other cryptocurrencies.
Bitfinex executives have denied in the past that the exchange was involved in any manipulation.
The authors of the new 66-page paper do not have emails or documents that prove that Bitfinex knew about or was responsible for price manipulation.
Other large virtual currencies that can be purchased with Tether, such as Ether and Zcash, rose even more quickly than Bitcoin in those periods.
The prices rose much more quickly on exchanges that accepted Tether than they did on those that did not, and the pattern ceased when Bitfinex stopped issuing new Tether this year, the authors found.

Source: Www.nytimes.com

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