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> The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume 95% of Bitcoin trading on *unregulated* exchanges
by PretzelPirate 5y ago
> The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume
95% of Bitcoin trading on *unregulated* exchanges was fraudulent. There’s a reason why people don’t use CoinMarketCap anymore and it’s precisely because it shows bad metrics from fraudulent exchanges.
- arcticbull 5y agoThey’re all unregulated. Coinbase was included in their list. The word “unregulated” was a flourish added by cointelegraph as a distraction. > Of the 81 exchanges evaluated in the report, only 10 provide volume figures that are legitimate, according to Bitwise. Coinbase is regulated as a money transmitter, like Venmo. [edit] what I believe they meant was that 95% of all trading volume was fake and 100% of that came from the less reputable exchanges.