Tether Denies Recent Bitcoin Whale Manipulation Study

November 8, 2019 | By | Reply | 17 Readers More


A recent study published by two US academics claimed that Tether and Bitfinex manipulated Bitcoin’s parabolic rally in 2017. Days after the publication, Tether has issued an official response denying the merits of the report, saying that the paper lacks credibility.

Tether’s Response

A few days ago, two university academics updated a paper they have previously published in 2018 regarding a possible price manipulation in the cryptocurrency market. As per their report, the 2017 price surge was severely manipulated by one single whale. They even went further by claiming that Tether (USDT) was used to inflate Bitcoin’s price artificially, and it was carried out on the cryptocurrency exchange – Bitfinex.

It didn’t take long for Tether to publish an official response. The statement completely denies all accusations coming from the report, naming it “a weakened yet equally…

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