CoinMarketCap, an analytic portal dedicated to Bitcoin and other cryptocurrencies, responded to allegations that by publishing inaccurate trading volume data on exchanges, it indirectly supports the so-called laundering transactions.
The CoinMarketCap administration was prompted to take this step by publishing on Crypto Exchange Ranks a detailed description of how the portal gives exchanges an incentive to publish fake volumes.
Cryptocurrency Exchange in the USA Kraken hired the former CEO of the OTC B2C2 trading platform to lead his new Bitcoin futures transaction.
Kevin Beardsley, who previously led the British company for a year, will now be watching the expansion of Kraken Futures, as sales in June reached $ 2.5 billion.
Beardsley confirmed the news, citing comments he made on the release of The Block cryptocurrency news.
In particular, they talked about the little-known Bitforex exchange, which, due to simultaneous purchases and sales, at some point rose to CoinMarketCap in the top ten trading platforms in terms of transaction volumes. The portal administration confirmed that in recent weeks it has observed growing concern about the displayed volumes of exchanges and their rating.
CoinMarketCap divided the most disturbing issues into three categories: the so-called transaction mining, in which user commissions are compensated using their own exchange tokens, lower commissions and, finally, artificial volumes and laundering transactions made with the help of market makers or bots.
In fact, of the 25 leading exchanges listed on the site, approximately 75% are accused of reporting manipulated trading volume. This is because CoinMarketCap is the main website used by most cryptocurrency traders.