Zurcoin Co-Founder Alleges Most Exchanges Manipulating Cryptocurrency Market

Zurcoin co-founder Daniel Mark Harrison has alleged that the majority of crypto exchanges are actively engaged in manipulating digital asset markets, which threatens the long term stability of the market and also fundamentally contradicts cryptocurrency’s principle of decentralisation.

In a post published on his Medium page, Harrison stated that exchanges are effectively stealing from their customers by acting in ways that move crypto prices downward until customers simply abandon their holdings, enabling exchanges to increase their crypto asset holdings through the back door in an operating climate that is otherwise unattractive due to high operating costs and low margins.

In Harrison’s opinion, the market situation that shows increased volumes amidst reduced capitalisation is fundamentally impossible according to rational market behaviour, and can only be the result of manipulation by exchanges with the aim of gaining custody of user crypto funds be exploiting the psychology of retail investors.

Reference: https://www.ccn.com/zurcoin-co-founder-alleges-most-exchanges-manipulating-cryptocurrency-market/

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