Matthew Hougan from Bitwise on Why 95% of Reported Bitcoin Trade Volume is Fake

The Peter McCormack Show - A podcast by Peter McCormack

Categories:

Interview location: Skype
Interview date: Friday 22nd March, 2019
Company: Bitwise Asset Management
Role: Global Head of Research

Bonus show: following the release of the Bitwise report on the reported fake exchange volume across most exchanges, submitted as part of their ETF application, I caught up with Matthew Hougan, their Global Head of Research to discuss it.

-----

Timestamps:

00:00:57: Introduction
00:01:06: Background to Bitwise and the Bitwise report
00:02:28: The current status of Bitwise’s ETF application
00:04:18: The fake volume detailed in Bitwise’s report
00:07:29: Why has this report not affected price at all?
00:10:36: What is included in the scope of the repot
00:11:46: How does this report link to Bitwise’s ETF application
00:13:46: Discussing how patterns were found in the data to suggest fake volume
00:17:49: Feedback on the report from the industry
00:20:18: Improvements in the arbitrage of the current crypto market
00:21:22: Why is Bitmex not included in the report?
00:24:38: Discussing Binance, which is not regulated by FinCEN
00:25:54: Market manipulation in Bitcoin markets
00:27:30: Does this report change Bitwise’s NAV calculations?
00:28:42: The process surrounding ETF applications and the report
00:31:40: Next steps for the ETF application
00:32:20: Final comments and how to stay in touch

-----

Helpful Links:

Connect with Matthew:
- On Twitter @matt_hougan
- On LinkedIn
- At Bitwise

Mentioned in the interview:
- The report Tweetstorm
- Bitcoin Trade Volume
- Bitewise ETF Application
- BitLicense

Other relevant WBD podcasts:
- WBD054: VanEck's Gabor Gurbacs on Bringing a Bitcoin ETF to Market
- WBD050: The SEC's Hester Peirce on Regulating Cryptocurrencies
- WBD035: The SEC, ETFs, XRP and Crypto Regulations with Jake Chervinsky

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.