University Researchers Accuse Tether of Manipulating Bitcoin Prices in 2017
Many cryptocurrency enthusiasts like to think back to 2017.
It was the year when Bitcoin and virtually all altcoins noted their last all-time high values. To this date, it still remains unclear where this sudden surge came from. Many people still feel Tether is partially to blame for this series of events. Influencing cryptocurrency prices can be done by anyone and everyone. The scale at which that impact will be visible is a different matter entirely.
More Tether Manipulation Accusations
As far as the 2017 cryptocurrency push was concerned, many people suspect big holders made their play accordingly. A new study created by John Griffin and Amin Shams seems to hint at one sole entity being the catalyst. They claim it only took one wealthy speculator to manipulate all of the markets with relative ease. More specifically, the researchers point a finger of blame at Tether. The company issues the USDT stablecoin which is commonly used across trading platforms.
While it is not the first time Tether is named in regards to potential market manipulation, the company refutes any and all claims. Tether’s General Counsel Stuart Hoegner went as far as stating how the research is flawed in many different ways. It is evident that this will not be the last accusation of Tether either. The company has been under scrutiny for quite some time now. In recent months, the company also became involved in a lawsuit. The outcome of that investigation is still pending at this time. Whether or not this research factors into that lawsuit, remains unclear.
Article Produced By
Heiko Closhen, Entrepreneur