
Claims of Tether being used to manipulate the price of Bitcoin - JohnHopler
Came across a Norwegian blog post, in which the author claims that Tether is being used to manipulate price swings in Bitcoin.<p>He&#x27;s not the first to make the accusation. However, I thought it was interesting that he&#x27;s also dug up transactions from Omniexplorer which shows the correlation between price swings and the printing of new money.<p>His rationale is that Tether floods the market with newly minted tokens at certain time points, buying up bitcoins in large numbers, while the same insiders profit from derivatives contracts.<p>A small increase in the price would yield massive profits when a position is being leveraged.<p>Has anyone looked into this, and what the status is?
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wmf
Yeah, this has been discussed extensively on HN. More recently, someone from
Circle claims that it was just whales doing arbitrage:
[https://www.theblockcrypto.com/post/48857/former-head-of-
cir...](https://www.theblockcrypto.com/post/48857/former-head-of-circle-otc-
says-theres-more-to-the-tether-narrative) Hopefully the New York investigation
will expose some facts that can prove or disprove this theory:
[https://davidgerard.co.uk/blockchain/2019/12/13/new-yorks-
pr...](https://davidgerard.co.uk/blockchain/2019/12/13/new-yorks-problem-with-
tether-as-set-out-for-the-appeal-judges/)

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JohnHopler
Edit: Forgot to add the source, if anyone wants to read the details. I guess
Google Translate should work well for most of ya: [https://www.xn--
privatkonomi-0jb.net/tether-risiko-
kryptoval...](https://www.privatøkonomi.net/tether-risiko-kryptovaluta/)

