When members of the Hunt family tried to corner the silver market in the 1970s, the ultra-wealthy Texas clan reportedly flew their holding of 35 million ounces of the precious metal to Switzerland in a chartered plane under the watchful eye of armed Texas ranch hands. By contrast, manipulating the fast-growing market for cryptocurrencies requires just the click of a mouse.
Market observers have been raising red flags about the integrity of the market for bitcoin, ethereum, ripple and other types of digital money in recent months, given the meteoric rises in their prices. But worries about market manipulation are coming into sharper focus during the recent gut-wrenching decline in prices before rebounding on Wednesday.
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