Once the world’s largest crypto exchange, Bitfinex stirs controversy

Matthew De Silva
Once the world’s largest crypto exchange, Bitfinex stirs controversy

This week, economics researchers updated a 2018 paper in which they argue bitcoin’s price was artificially inflated during 2017. John Griffin, a professor of finance at the University of Texas, and Amin Shams, an assistant professor at The Ohio State University, suggest a single massive trader influenced bitcoin’s ascent to $20,000, buying up the cryptocurrency at regular intervals using another digital unit called US Dollar Tether (USDT). For mom-and-pop bitcoin investors, the assertion holds importance because it speaks to the close relationship between USDT and Bitfinex, at one time the world’s largest crypto exchange.