Home News Ethereum community accuses BitMEX crypto exchange of manipulating ETC price

Ethereum community accuses BitMEX crypto exchange of manipulating ETC price

Arthur Hayes, CEO Bitmex, enraged the Ethereum community by publicly calling for playing with ETC.

BitMEX cryptocurrency exchange has recently opened up 50x margin ETH/USD trade, with Arthur Hayes instigating users to short ETC.

BitMEX’s CEO had distributed a message claiming that Ethereum is a useless asset and a “double digit colorful coin” among all his subscribers. He also recommended his customers to short ETC, then dump it and switch to BTC trading once and for all.

What is more, the exchange shows a significant spread between the buy and sell price orders. This fact rises some suspicion about BitMEX trying to trade against its own customers. Last week, Hayes called ETC a shitcoin, while predicting its price would eventually drop below $100.

Three weeks ago, BitMEX rented the most expensive office in the world at the 45-th floor of the notorious Cheung Kong Center in Hong Kong. This was preceded by Bitmex hitting the record daily trade volume of about 1 million XBT late in July.