US Government Opens Criminal Probe into Bitcoin Price Manipulation

[JollyGood]

https://www.ccn.com/us-government-criminal-probe-bitcoin-price-manipulation/

"The United States’ Justice Department has reportedly opened a criminal investigation into possible market manipulation of prices of cryptocurrencies including bitcoin by traders.

Citing sources familiar with the probe, Bloomberg is reporting that the United States Department of Justice (DOJ) is working alongside the Commodities and Futures Trading Commission (CFTC), the markets regulator, to focus on illegal trading activities in cryptocurrency markets.

Specifically, the investigation is narrowing in on ‘spoofing’, a form of market manipulation wherein traders enter a flurry of false orders to deceive other market participants into buying or selling, as well as “wash trading” – wherein traders sells and buys with themselves to purport heightened market activity in order to stroke confidence among other investors and lure them into the market.

The investigation is said to be in its ‘early stages’ with prosecutors reportedly looking into a cryptocurrency trading markets including that of bitcoin and ethereum’s ether token."

Maybe some "big" players have to look over their shoulder just in case the long arm of the US law agencies want to have a word with them

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[muncuss]

They form that investigation team coz want to protect their own investment
But i agree market must be not controlled by those manipulators

[JollyGood]

They form that investigation team coz want to protect their own investment
But i agree market must be not controlled by those manipulators

Any idea who the big manipulators are?

[sabine80]

i'm curious to see what the result of this investigation is. somehow i already believe that the market is being manipulated, but i do not think that the investigation can prove it.

[vhhjhju]

I think bitcoin is now being manipulated. There is a lot of good news in the market, but Bitcoin's price is still between $7000-$8000.

[JollyGood]

Old news we already saw this "effect" the market last week.

What happened last week and what was the result?

Since this is an ongoing investigation the 'result' if any cannot be final, lots of more news will be made public and it will affect the prices of crypto along the way.

[avikz]

I don't know what others think but that probe is going to have an adverse effect on bitcoin market. SEC has been playing a double faced game with the crypto market in their country and they just included CTFC and DOJ in that game. Bitcoin and the crypto currency market flourished because there was no regulations of any sort. If the regulatory bodies try to claim their right on that, it will just destroy the entire ecosystem for bad. Also the identity of big trades will be open to them and many arrests will be followed. Not at all getting a good feeling about it!

[JollyGood]

i'm curious to see what the result of this investigation is. somehow i already believe that the market is being manipulated, but i do not think that the investigation can prove it.

The US authorities have a habit of "proving" things so lets wait and see the outcome. It just started last week so will need some time to conclude.