FTX and Alameda Research May Have Used Social Media Bots To Manipulate Crypto Market, Says

New research finds that Twitter bot accounts may have lifted the prices of digital assets listed on embattled crypto exchange FTX and traded by its hedge fund arm, Alameda Research.

Highlights

• New research finds that Twitter bot accounts may have lifted the prices of digital assets listed on embattled crypto exchange FTX and traded by its hedge fund arm, Alameda Research.
• The study, conducted by the Network Contagion Research Institute (NCRI), examined more than three million tweets between January 1, 2019, to January 27, 2023.
• NCRI researchers say that “inauthentic, bot-like comments” about the 18 tokens increased over time after FTX promoted the digital assets.
• The 18 cryptocurrencies include Render (RNDR), The Sandbox (SAND), Immutable (IMX) and Gala (GALA)

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