Bitcoin is currently experiencing a lot of bearish pressure and most of the exchanges are showing that Bitcoin currency is struggling near the value of $8k to $9k.

The parent company of FTX exchange Alameda Research has faced a lawsuit of $150 million for market control and extortion.

Alameda Research rejected all the blames and said that there is no evidence of its involvement in violations in the market.

Bitcoin is currently experiencing a lot of bearish pressure and most of the exchanges are showing that Bitcoin currency is struggling near the value of $8k to $9k. The currency has not managed to cross the value of $10k, but on the other hand, the FTX cryptocurrency derivatives exchange shows that Bitcoin $10,000 value.

Did you know while you were hating on @DueDEX_Official, $BTC hit 10k today? Strange right, no Vegeta memes or anything yet on CT, yet on @FTX_Official BTC hit 10k on spot and everyone is quiet on it… Hmmm… Should I make a 15 tweet thread voicing my concerns? pic.twitter.com/Ezae9ZHaTp — NekoZ (@CryptoNekoZ) November 12, 2019

Bitcoin value is trading at the value of $8,798.64 on CoinMarketCap and is trading on $8,779.04 as per the trading on CoinStats data. Because of this huge difference in the value of Bitcoin, some users on Twitter claimed that the exchange is controlling the crypto market.

The CEO of Alameda Research, Sam Bankman-Fried, Alameda is the parent FTX exchange asked CoinMarketCap to add FTX on the freshly introduced list of “the most liquid spot market”, just hours before the candlesticks movement appears on charts.

At the starting of the month, the parent company of FTX exchange Alameda Research has faced a lawsuit of $150 million for market control and extortion. FTX has also created a lot of news before this incident and claims against it that it is manipulating the market. The lawsuit Alameda Research is experiencing came after the charges on the Binance’s futures platform and this took place on 15th August.

After that attack, the liquidations of Binance’ are bounded to the index price and the market was not affected by this much. However, the complainant said that it has created noticeable destruction. On the other hand, Alameda Research rejected all the blames and said that there is no evidence of its involvement in violations in the market.