Forbes’ Crypto Report Claims Half of All Bitcoin Trades are Fake

Can you still trust your crypto exchange or e-brokerage reports?

An ongoing study of the cryptocurrency market by Forbes magazine stated on Friday that its analysis of 157 different cryptocurrency exchanges revealed that more than half, 51% to be exact, of the daily trading volume being reported about Bitcoin is fake news. This is not at all surprising to me, but it has to be disheartening news for crypto and decentralized finance (DeFi) fans. Bitcoin’s price per coin today of $19.7k pales in comparison to last fall’s, when it was rocketing towards what would become its peak price of $67.5k in late November.

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Richard Paxton

CEO of the Alacer Group. Sharing the latest news in financial crimes and best practices that enable financial institutions to prevent money laundering.

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