Trading platform admits Tether is manipulating Bitcoin price
decrypt.co
decrypt.co
"Trading platform admits Tether is manipulating Bitcoin price"
This is nowhere in the article. When people spend millions to buy bitcoin, the price goes up. That is how it works. If they have to take a step through tether, that is only to work around the limitations of many exchanges not taking fiat.
What bullshit.
But in any way, I don't understand that meme. When tether becomes worthless, there will be a lot of uncertainty and maybe some people will panic sell, but how does it actually affect the people who don't give a shit about tether?
The idea that large, savvy investors with millions to spend are going to put their money into a currency that's already had nearly a billion dollars seized and under investigation by the NY AG is simply not credible to me.
The best line is "Harborne said it was more a matter of bull-run optimism than cynical market manipulation"...except the transactions come first...
one need to buy a ticket _before_ boarding the train
here the ticket is Tether, and the train are exchanges (mostly Bitfinex)
Also if you get most of your BTC seized you're doing it wrong.
2. There's a big difference between "money gets seized sometimes" and "this shady bank that promises audits but never completes them had half its assets frozen".
But what's more strange is how fast the price has gone up in the last 30 days based on the chart. I will put that this wont hold water for too long
> “Bitfinex [a large crypto exchange that operates as Tether’s affiliate] issues tethers to their traders for market manipulation, market manipulators pump and dump, then ‘pay’ for the tethers later.”
The title is literally the core claim the article is making. To be very clear, though, this is not news to anyone who follows bitcoin community drama. Whats funny about the article is that an insider admitted it.
The headline is a pure invention not related to the article.
That's doesn't sound like manipulation. It sounds oddly normal and acceptable for a coin that we know has problems.
The biggest lie in your article is calling tether "fully backed". That's laughable since we know from the AG report it is 70% at most and likely lower when you ignore paper from related companies.