A report by Trustnodes dragged attention toward potential price manipulation by the former EOS company Block.one via the Coindesk media.
Coindesk is a highly reputed crypto news website. Seven years ago, Coindesk was acquired by Digital Currency Group (DCG). Just a month ago, Bullish acquired CoinDesk Media. Bullish is a crypto exchange which was founded by Block.One, a company behind EOS Cryptocurrency.
Block.one’s history is very controversial, as the company allegedly sold a huge amount of Ethereum (ETH) in the 2018 bear phase to dump ETH. Also, this company was sued by EOS holders. Even the main EOS coder left the project.
Allegedly the Blockc.one owner was engaged in money-making activities, instead of the growth of the EOS project.
By considering these factors, a crypto news website Trustnodes published a report and noted that CoinDesk’s reports on Bitcoin spot ETF played a vital role in dumping the trade price of Bitcoin.
According to the report, the current Coindesk owner is no more than a scammer and probably Coindesk published negative reports against Bitcoin bull sentiments, obviously to manipulate the trade price of Bitcoin.
Trustnodes noted that CoinDesk published multiple reports with negative titles e.g “Bitcoin Spot ETF Proposals to Be Rejected by SEC: Matrixport”,
Also, CoinDesk itself created some self-created lines to support these negative reports e.g. in a report stated “From a political perspective, there is no reason to approve a bitcoin spot ETF that would legitimize Bitcoin as an alternative store of value.”
Trustnodes clearly said that the Coindesk editorial team knows very well what they are doing, contradictory to what they were doing before Nov 2023 under the independent control of DCG.
If the allegations by the Trustnodes are 100% true then it will be very bad news for the whole crypto sector because CoinDesk was known mainly for its independent work and no one in this sector can’t for forget how Coindesk dislosed the fake financial position of the FTX exchange & Alameda Research.
Now it will be interesting to see the response by the Coindesk media against these allegations.
Read also: Bloomberg ETF expert says no rejection chance for Bitcoin spot ETF applications