BGDon 🇨🇦 🇺🇸 👨‍💻Nov 8

Whaaattt? Fake trades on PolyMarket?

Researchers at Columbia University identified that ~ 25% of contracts on PolyMarket were “wash trades,”. Wash trade refer to the practice of buying and selling securities without taking a net position, for the purpose of artificially inflating recorded trading volume - aka
manipulate the market.

Transaction patterns indicative of wash trading trended upward in July 2024, peaking at nearly 60 percent of volume in December 2024. This activity persisted through late April 2025 before subsiding substantially, and increased again to about 20 percent of volume in early October 2025. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5714122 #Polymarket #Gambling #Trades #WashTrades #MarketManipulation #Crypto #CryptoCurrencies #StableCoin #CryptoWallets #PredictionsMarket #ColumbiaUniversity

Show threadDaniel AJ SokolovApr 19, 2024
@JizzelEtBass I sell you a wedge for $10. You sell me that wedge back for $11. I sell the wedge back to you for $12. Wow, wedges went up 20% in a single day! #washtrades
Daniel AJ SokolovApr 18, 2024
I want you to listen to me. I'm going to say this again: There are no #washtrades with shares of Trump Media & Technology Group Corp. (#DJT); not a single time, never. These allegations are false!
Show threadCory DoctorowMar 9, 2023

The most remarkable thing about this *incredibly* stupid story is that LBCC wasn't the peak of blockchain's bubble - rather, it was the *start* of blockchain's final pump-and-dump. By the standards of 2022's blockchain grifters, LBCC was small potatoes, a mere $138m sugar-water grift.

They didn't have any #NFTs, no #WashTrades, no #ICO. They didn't have #SuperbowlAds. They didn't steal billions from mom-and-pop investors while proclaiming themselves to be #EffectiveAltruists.

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