As Modern Consensus reported in late August, Coinbit was confiscated by the authorities over alleged fraud and faking over 99% of its trading volume through wash trading. Police believe the manipulation occurred between August 2019 and May of this year, with a ghost account used to inflate the transaction volume, the report said.
Must-reads for August 29, 2018: Surveys, stolen hotel data, faked trades, and more
Here are the crypto stories you should be watching today
The rise of crypto in higher education (Coinbase) It’s a slow news week for the crypto space so this survey is getting a lot of press. Here’s the stat they keep talking about: “42 percent of the world’s top 50 universities now offer at least one course on crypto or blockchain.” That means 21 schools have at least one single class teaching a 9 year-old technology. Of 675 students surveyed, 9 percent said they’ve taken a cryptocurrency course, 18 percent said they’ve owned crypto at some point, and 26 percent said they want to take a crypto course. Did we mention this is a slow news week? Data of…
Uncomfortable questions for Bitfinex and Tether as feds search for bitcoin manipulation
It remains to be seen if Bitfinex and Tether are the subjects of a criminal investigation
Two Bloomberg stories about bitcoin published within an hour of each other on Thursday seemed barely related. But to those who follow the space closely, they are really the same story—and it’s perhaps the biggest story in crypto, one that may yet turn out to be the Enron of the cryptocurrency world, if not worse. The first piece, which went live at 4 a.m. Eastern Time, said the Department of Justice is conducting a criminal probe into bitcoin price manipulation. The feds are said to be looking at the practices of spoofing and executing wash trades to move the price of the cryptocurrency. [“Spoofing” is when someone puts in a…