Bitfinex responds to article claiming it is faking its volume

24 Oct, 2018
by David Borman
Bitfinex responds to article claiming it is faking its volume

Cointelegraph is reporting on a response that has come from Bitfinex concerning a claim made by a recent CoinDesk article. The claim is that Bitfinex is providing fake trading volume data to Coin Market Cap in order to inflate the value of Tether.

It seems the original claim is that since Bitfinex does not have a USD/USDT trading pair, it cannor be sending accurate volume data to CMC. The response seems to point out that they are doing nothing of the sort and the article is misunderstanding what it is looking at.

As of now there has not been a response from CoinDesk on their initial claim or Bitfinex's rebuttle.

This all comes off of much recent turmoil surrounding Bitfinex and Tether, as the price of USDT plummeted last week and the exchange has been accused of insolvency. At this time the price of Bitcoin on Bitfinex still has about a $150 premium, and the price of Tether is still around $0.97 on many exchanges.

Read more: Tether (USDT) still hasn't regained its dollar peg

Hopefully this blows over and everything goes back to normal for Bitfinex, but stay here with Chepicap for all updates!

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