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The feds are reportedly investigating whether beleaguered FTX founder Sam Bankman-Fried manipulated the market for two cryptocurrencies that crumbled earlier this year – eventually resulting in the downfall of his own company. "The bitcoin price is whatever the large players need it to be," writes(Opens in a new tab) Gerard. "The market is very thin and trivially manipulable with the billions of pseudo-dollars in unbacked stablecoins on the unregulated offshore exchanges. The price needs to be high enough so the big boys' loans don't get liquidated; but it needs to be low enough so that the bagholders don't attempt to cash out." Cryptocurrency is all the rage. But itrsquo;s still in its early days and that means a lot of lying, cheating and stealing. The emergence of cryptocurrency has created an entirely novel, poorly-understood, rapidly-evolving territory that is ripe for fraudulent activity. https://thefreebitcoinfaucet.com/ |
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