Billionaire Mark Cuban warns the next crypto implosion could come from 'wash trades,' report says
After FTX's collapse rocked the crypto sector, billionaire Mark Cuban thinks the next meltdown could stem from so-called wash trading schemes.
Cuban added that he lacked"any specifics to offer to support my guess," and didn't elaborate further in email exchanges with The Street. A trader will buy mass volumes of a specific crypto and sell the same token to tout large trading volumes before turning to social media to create a misleading picture of demand.
The Securities and Exchange Commission has said that FTX founder Sam Bankman-Fried ordered his crypto hedge fund Alameda Research to buy cryptos and artificially inflate the value of a token it was borrowing against.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Enjoy great Cuban food in Glendale at this easygoing caféMambo’s – in what appears as if it could have been a gas station way back when – offers a unique dining experience.
Read more »
Cuban migrants flow into Florida Keys, overwhelm officialsMore than 500 Cuban immigrants have come ashore in the Florida Keys since the weekend, the latest in a large and increasing number who are fleeing the communist island
Read more »
US reopens visa, consular services at Cuban embassy for first time since 'Havana Syndrome' incidentsThe American embassy in Havana, Cuba, has reopened its visa and consular services Wednesday for the first time since a series of health incidents dubbed the 'Havana Syndrome.'
Read more »
Cuban migrants flow into Florida Keys, overwhelm officialsMore than 500 Cuban immigrants have come ashore in the Florida Keys since the weekend, the latest in a large and increasing number who are fleeing the communist island.
Read more »
Cuban migrants flow into Florida Keys, overwhelm officialsMore than 500 Cuban immigrants have come ashore in the Florida Keys since the weekend, the latest in a large and increasing number who are fleeing the communist island and stretching thin U.S. border agencies both on land and at sea. It is a dangerous 100-mile (160-kilometer) trip in often rickety boats — unknown thousands having perished over the years — but more Cubans are taking the risk amid deepening and compounding political and economic crises at home. A smaller number of Haitians are also fleeing their country’s economic and political woes and arriving by boat in Florida. The Coast Guard tries to interdict Cuban migrants at sea and return them.
Read more »
73-year-old pays $370\u002Fmo to live in a 1,066-sq-ft plane he bought for $100,000: 'I have no regrets'Mark Cuban on the habit all 30-somethings need to succeed: Without it, 'you're not expanding your mind' (via CNBCMakeIt)
Read more »