FORBES ANALYSIS OF 157 CRYPTO EXCHANGES FINDS THAT 51% OF THE DAILY BITCOIN TRADING VOLUME BEING REPORTED IS LIKELY BOGUS

On 26 August, Forbes magazine asked can you trust what your crypto exchange or e-brokerage reports about trading in the most important digital currency?  It says that one of the most common criticisms of bitcoin is pervasive “wash trading” (a form of fake volume) and poor surveillance across exchanges.  It explains that wash trading benefits exchanges because it allows them to appear to have more volume than they actually do, potentially encouraging more legitimate trading.  Forbes undertook a study evaluated 157 crypto exchanges across the world, and the article presents its findings.

https://www.forbes.com/sites/javierpaz/2022/08/26/more-than-half-of-all-bitcoin-trades-are-fake/?sh=3f51df666681

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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