Hi Adam,
Michael Oved

Hey Adam,

I’ve got to say I find it absolutely shocking that you found no wrongdoing. If it is plain obvious to you tha someone has been manipulating the market on your plateform then I think you’re either incredible 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 $1 and $2 etc..? Who believed that the price was going to go that low and put loads of orders there? Were these people just insanely lucky, 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 order would just simply all of a sudden decide to liquidate their ENTIRE position with a MARKET ORDER? 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?

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 shares that I had just sold for 0.005% of the price I had just sold those exact same shares 5 minutes previously, and run a way with millions of $$ of profits?

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


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