Bitcoin trading data from as many as 160 exchanges does not correspond to their claims according to a recently published report from Forbes Magazine’s digital asset branch, CoinTelegraph reported. Binance and Bybit claim more than twice the volumeForbes contributor Javier Pax reported some exchanges’ Bitcoin trading volumes were 95% less than what they reported, while exchanges like Binance, which operate with little to no regulatory oversight, claimed to have more than twice the actual volume. Binance claimed trading volume of $217 billion, while in reality, it was just $89 billion. Fake volumePax said:More than half of all reported trading volume is likely to be fake or non-economic. More than half of all reported trading volume is likely to be fake or non-economic.

Source: Forbes September 04, 2022 05:38 UTC