Manipulation

As the month-long skyrocketing of the digital currency market continues, Elon Musk the CEO of Tesla and SpaceX has come out to refute claims that he is a person behind the current bitcoin pump-and-dump scheme in early 2021.

On June 13, the world's most-referenced price-tracking website, CoinMarketCap, has provided wrong data for most of the cryptocurrencies including their market caps, dominance and others. This wrong data was misleading the community especially those who want to sell, buy or invest in certain cryptocurrencies.

Despite the series of obvious advantages, the DeFi platforms seem to face cyber attacks over and over again. The latest hack cost an exchange $3.8M. The road in the DeFi and cryptocurrency sector seems not to be smooth.

The SEC recently responded to Wilshire Phoenix’s Application for the approval of a proposed rule change to launch a Bitcoin ETF. SEC rejected the citing insufficiently weak strategies for combating major common  financial crimes such as Market manipulation and Money laundering.

The United States court has managed to discharge a case that was condemning bitcoin cash (BCH) protagonists such as the Bitmain cryptocurrency exchange, its founder Jihan Wu, Kraken, its founder Roger Ver of forging as well as influencing the token's value in November 2018, when previous BCH hard fork that occurred and gave birth of bitcoin SV (BSV).

A good number of countries including the United Arab Emirates (UAE), Italy, Estonia, Ukraine, Denmark and Russia are planning to use blockchain or distributed ledger technology (DLT) to conduct their polls via sophisticated electronic processes and in other vital sectors. As the US presidential elections are getting closer, some blockchain-friendly candidates including Andrew Yang are proposing the use of the technology in e-polling, to avoid vote rigging and manipulation of poll results as what happened in the last elections.

In the latest news, we saw Donald Trump, the President of the USA and a successful businessman, criticizing the nature of cryptocurrencies such as Bitcoin. The market reacted immediately to the billionaire’s statement and BTC lost 14% of its value in a 7 day period. Was it an honest opinion or another attempt to manipulate the cryptocurrency market?

Blockchain technology could play an important role in transforming smart contract processes in Italy. Currently, smart contract process is not dependable and could cause negative consequences if used. The technology has the potential to revolutionize the decentralized register into a robust instrument of control and manipulation.

A big financial analyst famously known for his optimistic position on bitcoin has floated the contingency that bitcoin futures contracts could be highly damaging the cryptocurrency's price.