Bloomberg has been performing an all out assault on cryptocurrency.
Last night I was fed up with all the fake news floating around out there on cryptocurrency. So I decided to go and track down sources of news that is intentionally publishing fake news. What I found was interesting. I'm finding fake articles that reference Bloomberg news. Bloomberg is already heavily focusing on taking down cryptocurrency through negative press. This negative press is spawning other lesser known media to reproduce the news while twisting the truth and flat out creating fake news from thin air.
Her is an example:
https://www.gizmodo.com.au/2018/01/report-china-plans-to-root-out-crypto-platforms-offering-exchange-like-services/
This article by Tom Mckay references Bloomberg, but goes a few steps further to spread Fake News. In this article, Tom adds images of Bitcoin ATMs, directing the reader's focus to believe that Bitcoin ATM's are banned in China. Tom also goes to the extent of stating this bit of Fake News: "Nearby South Korea has also mulled tough measures on cryptocurrency, but officials say a planned ban on exchanges has not yet been finalized." Tom Mckay fabricated this news insinuating that South Korea plans to ban exchanges.
What is even crazier this morning, there is all kinds of Fake News spun out of control from the Bloomberg source. Instead of the original China clamping down on exchange like apps. This morning the news has morphed into a full out Chinese ban on cryptocurrency.
Lets look at Bloomberg's article on the "Credit Card Ban". Bloomberg claims that banks are banning cryptocurrency transactions. You have to read carefully to realize that the banks are not actually banning cryptocurrency. However, that article has spun a bunch of Fake News about wide spread banking bans on cryptocurrency. What is the real story? Credit card companies have always had a method of "Cash Advance" option on credit cards. Converting credit to cash comes with risk and the banks typically add a fee, cash advance limit, and sometimes a higher interest rate. Buying money with a credit card has always been a loophole that people have been using to get around the cash advance fees and limits. Banks know this loophole exists and have been choosing to look the other way. Now they are taking steps to close this loophole. The Media reports this as a "BAN"..... FAKE NEWS
In my research, I only find negative cryptocurrency media from Bloomberg. They could report how UAE banks are utilizing cryptocurrency and how Litecoin has launched LitePay and LitePal, but they don't. Bloomberg a major source of negative cryptocurrency media in a deliberate attack to manipulate the cryptocurrency market.