Major Bitcoin Exchanges Turn Blind Eye to Wash Trading: Bombshell Report

Major Bitcoin Exchanges Turn Blind Eye to Wash Trading: Bombshell Report

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According to a report from CoVenture, a venture capital and technology firm, an uncomfortable number of major Bitcoin exchanges engage in some form of volume manipulation, at least indirectly. Primarily, the report deals with “wash trading,” which they define as: “hen a trader/s places a buy and sell order at an identical price without changing ownership of the underlying asset. They use bots to automate these orders leading to an artificially increased volume. This gives unsuspecting traders the illusion of liquidity.” In Bitcoin Trading, Volume is King CoVenture cites a case study previously reported on by CCN regarding Bithumb. The

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