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Published on Gold Anti-Trust Action Committee (http://gata.org)

Tether was used to manipulate bitcoin price, study says

By cpowell
Created 2018-06-13 15:33

By Matt Robinson and Matthew Leising
Bloomberg News
Wednesday, June 13, 2018

Tether, one of the most-traded cryptocurrencies, shows a pattern of being spent on Bitcoin at pivotal moments, helping to drive the world's first digital asset to a record price in December, according to research by a University of Texas professor known for flagging suspicious activity in the VIX benchmark.

"Tether seems to be used both to stabilize and manipulate Bitcoin prices," finance professor John Griffin and co-author Amin Shams wrote in a paper released today.

... Dispatch continues below ...



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Questions about Tether and Bitfinex have dogged the cryptocurrency world since last year, when Bitfinex lost banking relationships yet continued to operate. The U.S. Commodity Futures Trading Commission subpoenaed both firms in December, seeking proof that Tether is backed by a reserve of U.S. dollars, as it claims. Tether and Bitfinex haven't been accused of wrongdoing. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vi... [4]

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Source URL:
http://gata.org/node/18306