A recent article in Bloomberg Businessweek highlighted the work of UT-Austin finance
professor John Griffin, and his work in exposing the Bitcoin—Tether cryptocurrency
connection. He found that when “Bitcoin
fell to certain levels, purchases using Tether would flood in to stabilize
prices” and this “fit a pattern consistent with someone, or a group of people,
trying to manipulate Bitcoin prices.” Griffin also published a paper last year alleging a favorite benchmark of
volatility in the finance industry, the XIV, was rigged. His work has drawn an “eager
readership” among watchdogs, including the Department of Justice and the
Commodity Futures Trading Commission.
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