CME and BTC Exchanges Dispute US Led Regulators to Open Price Manipulation Probe https://bit.ly/2Jwl3FZ
So what is going on here?
Regulators from the CFTC has reportedly demanded extensive trading data from four cryptocurrency exchanges. The exchanges they have gone after are;
- Coinbase
- Bitstamp
- Kraken
- itBit
The probe followed the launch of Bitcoin futures by CME Group last year. CME forms its Bitcoin futures prices based on data from the four crypto exchanges.’
So clearly they didn’t know what they where doing as anybody in this market could of told them not to use them 4, makes you scratch your head a little bit, out of all the choices they choose them? Now basically they are saying they are upset as they think market manipulation is going on.
We all knew this was going on especially with Coinbase, we all know what they are doing is not fair. So they have chucked there toys out of the pram and gone to the government, so now the CFTC is launching a probe into these exchanges and there data. This sounds eerily similar to the The Jekyll Island duck hunt that created the Federal Reserve.
Basically the it’s the same thing, history is repeating. CME are saying they can’t win or get there own way. So they have decided to use taxpayer dollars to do it and get the government involved, where nobody asked them to, to help. CME probe Crypto exchanges that already existed prior to the US government even saying that crypto is real 😂 sounds like a joke.
This has been discussed before in congress, but now they have put out an entire statement saying crypto currencies can’t be stopped, this is something that we have to pay attention to and people are paying attention. With what we have seen over the weekend there is definatly something to be said about the CME probe.
By picking the 4 exchanges seems like they wanted this was going to happen, remember the CEO of CME saying they are going to tame the BTC market?
I’m pretty sure they picked these 4 exchanges for a reason, it wasn’t random. They knew they would have a shot with this probe if something went wrong and they are getting what they wanted. I mean Coinbase, really as if they didn’t know there was already price manipulation going on. So it’s a good business strategy in a new industry and they are playing the price manipulation card. On the exchanges they Know are involved in price manipulation.
So the price tanking isn’t just one making it happen but this probe is a factor, think about it. If the regulators can get the trading data, then they can basically use it to find the addresses of the high volume ones that they will be looking for. They do these things in little bites and steps until you look up and it’s all over. This is why most of us didn’t want to give them anything. We should have done what the government says to do in this situation…
This in its self doesn’t explain the tanking of 40billion over the last few days, or does it?
Let’s go hypothetical for a minute, so we all know price manipulation is going on. With this probe coming in if you are a whale that has been using the exchanges the probe is going after then at the very least you stop trading. If you are banged to rights and you hear they are going to have the data to prove it would you withdraw and run before the cops come banking on the door?
It’s obvious either the trading stops while the probe is going on or the people get worried and sell off there holdings to leave the exchange. The size of the whales selling off would trigger a downwards price movement, that with the added FUD of Coinrail hack will only fuel the sell offs.
Bitcoin is on the CME list!! It’s defiantly an asset class and it will never go away, personally, I think to make sure your BTC is off the exchange it will go up in the long run.
We will all be dead by the time the last bitcoin is mined, I’m seeing nothing to make me sell at the moment. This is all positive news in a way, bitcoin is going mainstream. What happens when the fear makes you sell, the bank buys it all and holds the majority then the price rises? Don't forget to buy bitcoin someone has to sell Bitcoin. This FUD and media IMO is being designed to make you uncertain sell your coins then the gov/banks will buy it all up then push positive press. You will try to buy but you won't be able to!! we lose they win HODL
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