Today John Griffin said that the price of bitcoin was artificially high. Moreover, based on his research, John Griffin published several articles that attracted the attention of the authorities and the public.
İn addition, based on the publications of the professor, the US financial regulator has summoned the leadership of Bitfinex, the largest crypto exchange. Apart from this, İt is noteworthy that this exchange is one of the most regulated and legally registered in the Caribbean islands.
Furthermore, the professor identified the scheme by which a group of people made an artificial demand for the exchange's tokens.
What is more that, representatives of Bitfinex deny any involvement in fraudulent activities and continue to defend the position of innocence. As a consequence, the demand for tokens was absolutely organic and could not be forged. Moreover, Bitfinex's executive director, Jan Ludovicus van der Velde, said that the scheme John Griffin identified could not be realized.
After all, the publication of John Griffin's report caused a high response from the public. Even the rate of bitcoin and other crypto-currencies immediately fell by 5%. Because, professor were supported by other well-known financial experts who had previously studied the problems of fraud.It turns out that John Griffin is not the only one who drew attention to the relationship between a sharp rise in price of crypto-currency.
Actually, many experts analyzed millions of transactions and concluded that before the most significant price jumps in the crypto-exchange markets, the exchanges passed through the Tether tokens.Overall, It is noteworthy that on those exchanges that did not use tokens, growth was practically not observed.
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