t least that's the message Apolo Ohno, eight-time U.S. Olympic medalist and the founder of a new cryptocurrency exchange called Hybrid Block, has for the industry. While the speed skating champion is so confident he sees cryptocurrency as a "long-term play," he believes the state of global exchange ecosystem he's entering is a mess to say the least.
Not only are there issues that need to be resolved before the industry hits its next wave of maturity - education, transparency, liquidity and regulation - there's also rampant fraud.
Speaking at the Blockchain Unbound conference in Puerto Rico last week, Ohno signaled out wash trading - or the practice of buying and selling the same financial instrument to create artificial volume - as rampant. Not only is it practiced by individual investors, he claimed it's even done by individual exchanges that are cheating their customers.
https://www.coindesk.com/olympic-gold-medalist-apolo-ohno-has-a-problem-with-crypto/
