People - the US Stock Market banned wash trading in 1936.

Wash trades are essentially trades that cancel each other out and have no commercial value as such, only to manipulate the price.

Offshore Unregulated Crypto Exchanges are wash trading to manipulate the price of crypto to liquidate traders.

How does it work? Wash Trading example:

Buy $1m $BTC green candle

Sell $1m $BTC red candle

Net Zero to the exchange (which use a Market Maker to execute the trade) but all those traders with leverage trades get liquidated, thus the wash trading exchange makes profit on this extraction.

The US Senate must pass the Market Structure Bill which will impose the same law against wash trading on exchange participants. The majority of crypto manipulation will end literally overnight.

Everyone comment on this post and raise awareness.

endwashtrading