Amid the ongoing trial, a shocking claim has come to light from Caroline Ellison’s testimony, which includes Bitcoin’s price manipulation.
In a document shared with the court, Caroline has written a note that reads, “Keep selling BTC if it’s over $20k.” The note presumably refers to suppressing the BTC price on the exchange.
Caroline’s testimony revealed that SBF actively tried to sell BTC in order to keep its price below the $20,000 mark, which could significantly impact the dynamics of the crypto market.
Following the news, several questions arose from the crypto community regarding the Bitcoin price manipulation. As such, why would the FTX founder want to keep BTC below $20k? Is he under someone’s influence?
However, FTX’s dominance was not large enough at that time to control the market for the largest cryptocurrency, which had a market cap of several hundred billion dollars.