Unscrupulous Traders may have used Tether to Manipulate the price of Bitcoin

in #ftin • 5 years ago

Topic: Blockchain

Title: Unscrupulous Traders may have used Tether to Manipulate the price of Bitcoin

What: A Norwegian writer has come up with a theory that points to certain transactions with Tether that show the relation of Bitcoin price swings and newly minted cryptocurrency flows.
image.png

(https://www.xn--privatkonomi-0jb.net/)
Why/how: Screenshots from omniexplorer show major transactions carried out in the past and the corresponding change in the price of Bitcoin thereafter.
More ...: Tether was created as a stablecoin, but this investigation notes that it seemed that the currency was able to ‘print’ millions out of thin air within a short period of time somewhere in 2018.

Methodology: Online research and use of the tumbled pyramid

Sources:

• https://www.privatøkonomi.net/tether-risiko-kryptovaluta/
• https://news.ycombinator.com/item?id=21794434

Wordcount: 200-300

Qualification statement: This would be interesting info for those invested in crypto.

Time: 24 hours

Budget: 200TECH

5 years ago in #ftin by
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