Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

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  • The price of Bitcoin randomly surged to $10,000 on the FTX exchange

Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

Bitcoin once again touched the coveted $10,000 price level, but this only happened one the FTX cryptocurrency derivatives exchange.

At press time, the top coin is sitting at $8,744, according to CoinStats data.   

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The enormous price spread prompted some Twitter users to accuse the exchange of manipulating the crypto market. 

Ironically, Sam Bankman-Fried, the CEO of the exchange's parent company Alameda Research, asked CoinMarketCap to include FTX on its newly launched list of the most liquid spot markets just hours before the embarrassing candle happened.     

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FTX had already made a lot of buzz in November even before the aforementioned incident. At the beginning of the month, Alamada Research was slapped with a $150 mln lawsuit for market manipulation and racketeering.

This came after an accidental attack on Binance's futures platform that took place on Sept. 15. Since Binance's liquidations are tied to the index price, the market wasn't affected, but the plaintiff insisted that the was still significant damage involved.    

Alameda Research quickly dismissed the "nuisance suit," claiming that it had no evidence to back up any wrongdoings. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.