Whose Red Flags? Kraken Says Bloomberg is the One Manipulating Prices

[kreslik.news]

On the 29th of June, Bloomberg published an article entitled “Crypto Coin Tether Defies Logic on Kraken’s Market, Raising Red Flags”.

Kraken responded with a pithily-titled blog post: “On Tether: Journalists Defy Logic, Raising Red Flags”.

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In this article I will look at the claims of both sides of the argument.

Bloomberg’s accusation

Bloomberg claims that while other cryptocurrencies fluctuate in price in accordance with buy and sell orders, Tether remains suspiciously horizontal.

Working off a tip, Bloomberg looked at 56,000 trades that were processed on the exchange between the 1st of May and 22nd of June, ... (read more)