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Well it's easy to inflate trading volume when your business model is comprised of money laundering and wash trading to generate FOMO.
by WoahNoun 5y ago
Well it's easy to inflate trading volume when your business model is comprised of money laundering and wash trading to generate FOMO.
- CyrusL 5y agolol, the conspiracy theories keep getting wilder. So it's OpenSea wash trading or their users? Pretty hard to do with a 2.5% loss on every transaction.
- WoahNoun 5y agoBoth: https://www.theverge.com/2021/9/15/22676075/opensea-insider-information-nft-trading-nate-chastain https://www.theverge.com/2021/9/15/22676075/opensea-insider-...
- CyrusL 5y agoYeah, one employee swindled about $50k. He was immediately let go. OpenSea does $200m/day in volume. So about 20 seconds of their tx volume (not 100% sure I'm doing the math right).