and are likely to add fuel to the ongoing federal investigations into allegations of cryptocurrency market manipulation.
It found purchases of Bitcoin on Bitfinex jumped when Bitcoin value fell by"certain increments" and noted the existence of"one large player" who was toying with circulation, Bloomberg noted.today."It's not an efficient vehicle for ETFs [exchange-traded funds]."that claims to be stable, meaning that its values are not as susceptible to the instability seen in rival coins. It claims to be pegged 1-to-1 with the U.S.
A visual representation of the digital cryptocurrency, Bitcoin with US Dollar on November 9, 2017 in Hong Kong."We find that one large player is associated with more than half of the exchange of Tether for Bitcoin at Bitfinex, suggesting that the distribution of Tether into the market is from a large player and not many different investors bringing cash to Bitfinex to purchase Tether."indicating more than 70 percent of Bitcoin trading is in exchange for Tether.
As reported by Bloomberg, the paper suggested that Bitcoin prices can be manipulated by Tether coins being created without adequate reserves of U.S. dollars. In theory, the new Tether coins are then used to buy Bitcoin—which results in the overall Bitcoin value increasing.
That's How the stock market Works Too.🤔
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