Was There A Planned Bitcoin Crash? The Matrixport Founder Addresses Concerns

Matrixport’s co-founder Jihan Wu, has come out to try and clear the air in response to the negative reactions that a recent Bitcoin report by his firm has gotten. This comes as allegations of market manipulation from the firm continue to resound through the crypto community. 

Matrixport’s co-founder, Jihan Wu, addresses allegations of market manipulation following a Bitcoin report from his firm that coincided with a 10% price drop on January 3. The report speculated on the SEC rejecting pending Spot Bitcoin ETF applications, contributing to market concerns. Wu denies intentional market manipulation, attributing the decline to heightened volatility related to Spot Bitcoin ETF expectations. He emphasizes Matrixport’s inability to receive insider information and defends the independence of their analysts. Wu explains the firm’s shift in stance from expecting approval to acknowledging market uncertainties. Despite doubts about ETF approval in January, Wu remains optimistic about Bitcoin’s long-term success

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