Crypto Tim on Fake Volume News

I like Crypto Tim and his moderate tone. In one of his latest entries he disects the latest news about fake volume on various crypto exchanges:

Main take-aways

• Wash trading on crypto exchanges is nothing new
• Assumptions on the new platform are incoherent:
• Trusted exchanges dont necessarily have 100% proper transactions
• Not trusted exchanges do have a certain degree of proper transactions
• Openmarketcap, has voting on legitimacy of exchanges as businee model, how does this result in significant ratings?

Have you been shocked by the rate of fake volume?