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Reported “double spending” of bitcoin never happened
On Tuesday, headlines were made about a so-called "double spending" of bitcoin. The only problem was that it was not really a double spending in...
Image source: Shutterstock / Coinmarketcap
Gotbit's customers can be found on Coinmarketcaps list of the biggest cryptocurrencies.
Market manipulation has been a problem for the crypto world for a long time. The whole thing is seen as unethical, but a company in Russia is completely open with its business, Coindesk reports.
For a fee of approximately $15,000, a company called Gotbit programs bots that trades a cryptocurrency so much that they end up on the Coinmarketcaps list of the biggest cryptocurrencies.
Gotbit is owned by the 20-year-old student Alexey Andryunin, and he believes that the company has about 30 customers located between 300 and 500 on the list of the world’s biggest cryptocurrencies.
Alexey Andryunin realizes that what his company is doing is in the gray zone for what is okay.
“I’m not big on legal questions, but I think doing on NASDAQ what we are doing here would be a financial crime”, he tells Coindesk.
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