In this issue of the Bloomberg Crypto newsletter, Olga Kharif explores concentration in crypto: Cornering a blockchain Crypto was born in the fallout from the Global Financial Crisis as a reaction against the powers that be. The idea of any one entity — government or corporation — controlling information and access sent early adopters scurrying to Bitcoin and its blockchain, which isn’t owned by anybody and doesn’t exist in any one set place. Such networks are supposed to be developed,...

This month’s steep decline in Bitcoin trading volume on Binance is likely tied in part to the end of another zero-fee promotion by the world’s largest cryptocurrency exchange. The seven-day average volume has dropped by 26% since the start of September, according to researcher CCData. On Sept. 7, the exchange halted an incentive that allowed customers to trade between Bitcoin and the TrueUSD stablecoin without a fee. The seven-day average volume for that so-called trading pair has dropped 89%...

(Bloomberg) -- Trading volume on Binance.US is evaporating as the cryptocurrency exchange’s fight with US regulators intensifies. Most Read from Bloomberg Debris Spotted in Search for Missing US F-35 Fighter Jet India, Canada Trade Diplomatic Blows Over Murder Allegations Vegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the Making How Auto Executives Misread the UAW Ahead of Historic Strike China Ousted Foreign Minister Over Affair in US, WSJ Says As of August, monthly trading...

Token price manipulation is rampant on Ethereum-based decentralized exchanges, where so-called wash trading amounted to at least $2 billion worth of crytocurrencies since September 2020, according to a study by researcher Solidus Labs. Wash trading, a form of market price manipulation where a trader buys and sells a security, can involve token issuers and other parties selling a coin to themselves to boost its price and trading volume — and to make it a viable candidate for being listed on...

Token scams are flourishing on Base, the new blockchain launched by crypto exchange Coinbase Global Inc., earlier this month, an unfortunate byproduct of how vulnerable these networks are because they allow anyone to use them. Between mid-July and Base’s public debut in August, developers deployed more than 500 scam tokens — such as BASEPEPE (BPEPE) and Baby Yoda (YODA) — on the blockchain, according to Solidus Labs, a New York-based company that specializes in monitoring suspicious crypto...