Crypto Exchange Kraken Returning The Fire: OAG Employees Manipulate Bitcoin Futures

Following up on the latest crypto news, the standoff between one of the crypto exchanges under investigation Kraken and the New York Attorney General is still ongoing.

As a short recap about the situation, allegedly three major cryptocurrencies broke New York state’s regulation and violated the virtual currency regulations. Kraken is one of the three. As an answer to the allegations, the exchange asks whether OAG employees manipulated bitcoin futures.

The San Francisco-based exchange, it’s the 16^th largest crypto exchange by daily volume, responded to the report recently released on Twitter and the response made it to all major crypto news platforms. Kraken accused the OAG employees of manipulating the bitcoin price by releasing this kind of a report just a day before the expiry date of the CBOE’s exchange bitcoin futures contracts.

Kraken tweeted:

“Is it a coincidence that this was published the day before the expiration of the @CBOE futures contract? Who traded on insider information and what is being done to prevent manipulation by @NewYorkStateAG employees?
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Quis custodiet ipsos custodes?”

Kraken also continued in a series of tweets accusing the OAG that they want to shut down the exchange since it declined to fill out the agency’s questionnaire.

In their report, the OAG stated:

“They have so far refused to comply with our inquiry into the matter. The only conclusion we can make at this time is that they might be engaged in unlawful activity.’’

In their own manner, Kraken thanked the OAG for doing all the work in researching taxpayers’ expenses and providing them with confidential information about their competitors.