Trading platform admits Tether is manipulating Bitcoin price

So what&#x27;s with the title on HN?<p>&quot;Trading platform admits Tether is manipulating Bitcoin price&quot;<p>This is nowhere in the article. When people spend millions to buy bitcoin, the price goes up. That is how it works. If they have to take a step through tether, that is only to work around the limitations of many exchanges not taking fiat.<p>What bullshit.

Headline doesn&#x27;t match the site, and the article reads largely like Bitfinex PR.<p>The idea that large, savvy investors with millions to spend are going to put their money into a currency that&#x27;s already had nearly a billion dollars <i>seized</i> and under investigation by the NY AG is simply not credible to me.

Bitcoin is priced at $11,000 now <a href="https:&#x2F;&#x2F;www.coingecko.com&#x2F;en" rel="nofollow">https:&#x2F;&#x2F;www.coingecko.com&#x2F;en</a> Is this largely schemed by a few individuals having tether influence?<p>But what&#x27;s more strange is how fast the price has gone up in the last 30 days based on the chart. I will put that this wont hold water for too long

I cant figure out why this is flagged and people are claiming the article doesn&#x27;t support the HN title. What does this mean if not &quot;tether is being used to manipulate BTC&quot;<p>&gt; “Bitfinex [a large crypto exchange that operates as Tether’s affiliate] issues tethers to their traders for market manipulation, market manipulators pump and dump, then ‘pay’ for the tethers later.”<p>The title is literally the core claim the article is making. To be very clear, though, this is not news to anyone who follows bitcoin community drama. Whats funny about the article is that an insider admitted it.

Whales and otc desks buy Teathers in $100k blocks so they spread purchases across exchanges that didn&#x27;t accept dollars?<p>That&#x27;s doesn&#x27;t sound like manipulation. It sounds oddly normal and acceptable for a coin that we know has problems.<p>The biggest lie in your article is calling tether &quot;fully backed&quot;. That&#x27;s laughable since we know from the AG report it is 70% at most and likely lower when you ignore paper from related companies.

people &quot;printing&quot; Tether have been manipulating BTC price for a very long time. I have personally benefited from this!