Crypto News Flash #202: Kraken Exchange Claims Bloomberg Is Manipulating Bitcoin Futures Price

in news •  5 months ago

Well, if you're active in crypto space, then you must be aware of the recent Kraken-Tether Conspiracy. Recently, a lot of media covered that Tether price is being manipulated at Kraken Exchange resulting in the manipulation of Bitcoin's price. Market was down a few days exactly when Kraken-Tether conspiracy went out. So, people had a reason to believe that conspiracy stuff.

But now Kraken is claiming that Bloomberg is manipulating Bitcoin's Futures market. 

Recently, Kraken came out of silence and held a pitchfork against Bloomberg's article criticising Kraken for manipulating Tether pri Kraken said that Bloomberg's article was poorly written, had no logic and shamelessly copied from other media's articles. 

Kraken said:

“If we are to take up our pitchforks against market manipulation, guide your torches toward this illumination: the Bloomberg News piece was published on June 29th, the last business day of trading for Q2, and expiration date of numerous futures contracts. It raises red flags.”

Kraken was referring to the CME's futures which closed on 29th June with a settlement date of 5th July. S0, basically, Kraken was trying to say that price of Bitcoin was being manipulated by Bloomberg's editorials.

Well, this conspiracy stuff has been going in crypto space for too long and manipulations have always been happening in crypto market. Institutional investors or whales always manipulate price and the blame falls on media houses or crypto exchanges. 

For now, Bitcoin price is stable and if everything goes fine like past few days, we might expect it to go further high. 

Thanks for reading ....!!

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hi @cryptonet,
Thanks for sharinf this info. But i dont u'stand why this manipulation? Will they be able to do it forever....a big NO.
why putting innocent investors in trouble?

thanks for sharing such precious information. nice post i got some valueable points from your article.