Nearly $40 billion has been wiped off the crypto markets in a single day after reports of CFTC regulators investigation price manipulations, emerged.
However, yesterday’s price crash was not just limited to Bitcoin as nearly all of the top 100 digital currencies were seen correcting by 5-7% on average.
On Friday, June 8, Wall Street Journal reported that the U.S Commodities Futures Trading Commission (CFTC) has launched a probe to see the possibility of potential price manipulation in four major digital currency exchanges: Bitstamp, Coinbase, itBit and Kraken.
This quarrel between the CME and the crypto exchanges provided an impetus to the CFTC to launch an investigation in this matter.
The CFTC is now said to be working along with the Justice Department to investigate the manipulation in the price of other digital currencies as well.
Leading crypto industry figures weighed in on the major implications of cryptocurrencies for – and beyond – the global economy, at the Rise conference in Hong Kong Wednesday, July 11. The panel’s participants were the Ethereum Foundation’s co-founder Joseph Lubin, CEO of crypto merchant bank Galaxy Digital Mike Novgoratz, Crypto.com CEO Kris Marszalek, Tenx’s Julian
