The fact that this so called report states that Bifinex, one of the shadiest exchanges out there, isn't washing shows just how wrong & unreliable it is.
Wondering what the connection is between Bitfinex & this "Blockchain Transparency Institute".......
Topic: [2018-12-17] Only Binance and Bitfinex Do Not Fake Volume, New Report Finds - page 2. (Read 383 times)
December 18, 2018, 06:25:07 AM
December 18, 2018, 05:35:09 AM
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
Perhaps it has something to do with the methodology of BTI that's why they didn't caught specially Bitfinex of wash trading or faking their trade volumes. Because I'm also quite surprised to find out Bitfinex of all the the trading exchanges not into some illicit trades. But there's no surprised on HitBTC and Huobi, LOL, the report says 25% volumes are fake which we have long suspected for a very long time.
December 18, 2018, 05:15:23 AM
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
I think the Tether drama has put some spotlight on Bitfinex's shady trading behavior and they are trying to fly under the radar for a while. Time will tell if they had learned some lessons from that or if they are going to repeat their mistakes.
I can still remember when most Asian exchanges were closed down by their governments, when they investigated them and found massive manipulation of trading volumes. I hope we will not see a repeat of this, once the regulators gets wind of this study.
December 18, 2018, 03:38:27 AM
I think there was another list that included huobi as well. Other echanges that appear out of nowhere are definitely fake volume traders. It is easy to get bots to do the hard work and get into the lucrative top ten position in cmc
December 18, 2018, 02:21:36 AM
Bitfinex might be shady but despite everything else, it's still one of the oldest around and is still operating with the US keeping an eye on it, so they might be ok from this point of view. Tether is a different story.
you can't separate bitfinex from tether. that's why they are both the subjects of the same criminal probe by the DOJ and CFTC. bitfinex is the only place that redeems tether (because they're both owned by the same people). i think the "tether printing" allegations mostly center around strings of $50m and $100m tether deposits that were immediately sent to bitfinex before huge market buys.
Probably it's not that clear and they don't have enough proofs ..so the house won't crumble very soon.
Remember how swiftly they've arrested the guy from btc-e?
Remember how swiftly they've arrested the guy from btc-e?
the feds waited to unseal the indictment and seize the website until they were able to have alexander vinnik arrested. but they were investigating btc-e for years before that, and they were analyzing btc-e's servers under warrant for 7 months. i think the case is similar here. they've been investigating bitfinex for at least a year now.
December 17, 2018, 09:00:56 PM
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
Who funds the Blockchain Transparency Institute? Answer that and the motivation for this report would be clearer.
In any case, I reckon our favorite, classic exchanges, Bittrex and Poloniex, have never faked their volume. Also, with Poloniex being owned by Circle and being based in America, it would be a grave mistake.
December 17, 2018, 08:27:04 PM
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
#Metoo
I'm more surprised by the binance numbers, remember they've fled Japan while denying they have any problems or any looming investigations. Bitfinex might be shady but despite everything else, it's still one of the oldest around and is still operating with the US keeping an eye on it, so they might be ok from this point of view. Tether is a different story.
As for the rest....who would ever believe those numbers?
It's going to be pretty funny for their owners when the fiscal inspectors knock at the door wondering how an exchange that does 100 million in daily trades has a revenue of 1k a day.
i'm pretty worried about bitfinex actually. it's not just the CFTC anymore that's looking at them. the DOJ is involved now, and they're always involved when major criminal enforcement actions come through the pipeline. i'm getting flashbacks to the btc-e seizure.....
Probably it's not that clear and they don't have enough proofs ..so the house won't crumble very soon.
Remember how swiftly they've arrested the guy from btc-e?
Just recently I've read of another arrest, the guy who was running an romanian exchange, they didn't even wait for extradition papers, he was in a plane before he realized what is happening.
So probably nothing will happen at least this year
And if it does, god help us cause it's really not the time.
December 17, 2018, 07:54:49 PM
Bitfinex is a horrible exchange and has been for quite a while now. I wouldn't trust anything coming from that exchange, especially with how they are notoriously spoofing their orderbooks with large fake buy walls (that they withdraw as soon as they notice someone is about to dump into them) to make it seem like there is a lot going on, while in reality it's quite disappointingly boring.
It's not a list consisting of which exchange are the best of the best, but a list consisting of exchanges of who's the least worst of the worst.
Binance is the only decent exchange in the list. Unregulated, but still decent.
It's not a list consisting of which exchange are the best of the best, but a list consisting of exchanges of who's the least worst of the worst.
Binance is the only decent exchange in the list. Unregulated, but still decent.
December 17, 2018, 05:08:08 PM
i'm surprised tbh. but i'm also not sure how good their methodology is for catching volume pumping. CZ built okcoin's volumizer back when they ruled the market and i always thought binance's volume vs books was suspicious (at least in their earlier days).
i'm pretty worried about bitfinex actually. it's not just the CFTC anymore that's looking at them. the DOJ is involved now, and they're always involved when major criminal enforcement actions come through the pipeline. i'm getting flashbacks to the btc-e seizure.....
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
i'm pretty worried about bitfinex actually. it's not just the CFTC anymore that's looking at them. the DOJ is involved now, and they're always involved when major criminal enforcement actions come through the pipeline. i'm getting flashbacks to the btc-e seizure.....
December 17, 2018, 03:49:53 PM
I'm actually a little surprised there are two exchanges that don't fake their volume. I naturally assumed they all did. Still, those two are probably doing something else illicit. Bitfinex still have that Tether shadow looming over them.
December 17, 2018, 12:59:19 PM
The Blockchain Transparency Institute has released its December Exchange Volumes Report, delving deeper than ever before into suspected wash trading. The conclusions paint a rather damning picture. Only 2 of CoinMarketCap’s top 25 BTC pairs aren’t massively inflating actual volume.
https://bitcoinist.com/binance-bitfinex-not-fake-volume/
https://bitcoinist.com/binance-bitfinex-not-fake-volume/
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