ETH-USD Trading Update
Adam White

Hey Adam,

I’ve got to say I find it absolutely shocking that you found no wrongdoing. If it is NOT plain obvious to you that someone has been manipulating the market on your plateform then I think you’re either incredibly naive/stupid, or you’re acting like you are because you perhaps are on the side of the manipulators?

Doesn’t it sound incredible to you that some people out there had placed loads of limit buy orders at for Ethers at $1 and $2 … while Ether was trading at $300? Who were these people? Who really believed (knew?) that the price was going to go that low? Were these people just insanely lucky, and decided to just put in tons of orders that low and try their luck? or did they know that something was going to happen? I urge you to think hard about these questions, because right now a lot of people are starting to believe that you or the people you are defending are simply stealing money from users of your market.

Doesn’t it sound incredible to you that someone who had “millions” worth of Ethers would just simply all of a sudden decide to liquidate their ENTIRE position with a MARKET ORDER on ONE single platform? Do you know anyone stupid enough to do that? Doesn’t that sound like wrongdoing for you?? If you had millions of $ of Ether would just put in a market order to sell them all at once one a platform?

So if you found no wrongdoing, what you’re essentially saying to us is that I can just go on GDAX, decide to put a sell order big enough to trigger a casacade of margin calls and limit sells, and simultaneously put loads of buy orders at the very bottom and just buy all the Ethers back for 0.005% of the price I had just sold them ? I can then run a way with millions of $$ of profits, untroubled knowing that you will come out with a silly blogpost to defend me?

So you went to HBS and you really think that people are going to just believe that you’re that stupid/ naive / ignorant? Do you know the people behind this?

I THINK YOUR DUTY IS TO FIND OUT WHO DID IT, and that is the only way you will regain your customers’ trust