Published On: Thu, May 24th, 2018

U.S. Justice Department Probes Price Manipulation on Bitcoin Markets

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The U.S. Justice Department is looking into whether the price of bitcoin and other virtual currencies are being manipulated, according to a report in Bloomberg that referenced four unnamed sources for the information.Still in its early phases, the criminal probe will bring in other agencies, like the Commodity Futures Trading Commission (CFTC), a regulator that oversees bitcoin derivatives, sources said. On spot markets, like GDAX, Poloniex and Bitfinex, where cryptocurrencies change hands immediately, the price of bitcoin can vacillate wildly in a matter of hours. Starting in early 2017, the price of bitcoin ballooned from $1,000 to a record high …

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