In December a year ago, Bitfinex was again pulled up by the US controller as the US Commodity Futures Trading Commission subpoenaed Bitfinex and the company Tether after investors communicated worries over these exceptionally same price manipulation issues.
In January, reports of the subpoena against Bitfinex and Tether started to surface. Likewise, Bloomberg had revealed that the Department of Justice is working with the CFTC to investigate bitcoin and price manipulation, in spite of the fact that that examination is still in the beginning times. It was likewise asserted by two researchers of the University of Texas at Austin, to be specific, John M. Griffin and Amin Shams that the Bitcoin prices were misleadingly inflated in December when the digital gold achieved it’s all-high at nearly $20,000. Wells Fargo, who was the banking partner for Bitfinex, had likewise removed all ties with the Asian exchange when at long last made sense of what the customer was really doing and closed the account.
With the past Bitfinex has and with all the ongoing activities that are going on at Bitfinex, even authentic transactions are in effect intently watched by investors and community as it would be a price manipulation endeavor. It would truly take Bitfinex extremely long to clear its image except if it likes to proceed as such which is extremely not a sound brand image for the exchange.