A report last week suggesting that dozens of cryptocurrency exchanges exaggerate their trading volume was met with a mix of gasps and yawns from people working in the industry. On the one hand, the report, compiled by the crypto startup Bitwise, says that 95% of bitcoin trading volume reported by the exchanges isn’t real—a pretty damning finding, if true. On the other hand, a lot of people in crypto already assumed that some exchanges were inflating their volumes.
Meanwhile, as the crypto sector scrutinizes the practices of exchanges, work on one of the most high-profile crypto projects continues, with messaging platform Telegram entering the testing phase for its token.
