Crypto Coin Tether Defies Logic on Kraken’s Market, Raising Red Flags

By Matthew Leising Demetrios Pogkas and Brandon Kochkodin
June 29, 2018

Crypto Coin to say

In the traditional world of securities exchanges, it would be akin to defying gravity. But at Kraken, one of the most popular venues for trading cryptocurrencies, a coin called Tether does it again and again.

Huge trades move prices about the same as small ones, ignoring the normal rules of economics, according to a review of Kraken’s public order book—a pattern that experts on market manipulation view as a red flag. The mystery is bracketed by another quirk: Oddly specific order sizes—many going out to five decimal points, with some repeating frequently. Another red flag.