GOTBIT Consulting LLC and its CEO have been charged with market manipulation.
The company and its execs are accused of wash trading between 2017 and 2024.
The market might dip in the short term but will digest the concerns and distrust in time.
Blockchain analysis platform Santiment forecasts a short-term dip in digital assets. This prediction comes as the crypto community reacts to the news of GOTBIT Consulting LLC and its CEO, Aleksei Andriunin, facing charges of market manipulation and artificially inflating cryptocurrency prices.
Breaking: GOTBIT's market manipulation has been exposed and a criminal complaint against Aleksei Andriunin has been filed. Read our take on how this news could fuel crowd FUD, and why crowd reactions may lead to a surprise bullish fate for crypto. 
https://t.co/3UGLiSY0rV
— Santiment (@santimentfeed) October 9, 2024
In a press release, US authorities announced a crackdown on the leaders of four crypto firms, including digital asset services providers, market makers, and their employees. GOTBIT, its CEO, and two additional directors were charged in the case.
GOTBIT stands accused of market manipulation, wire fraud, and mone…
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