Coindesk interview with Gotbit CEO
Watch: Market Maker vs Coindesk
How do you get into the business of market manipulation? It’s easy if you try.
Alexey Andryunin, a 20-year-old college student from Moscow, became a sensation after he quite openly told CoinDesk how his company was helping little-known token projects get traction via inflated trading volumes.
He spoke with CoinDesk about the business of market manipulation and explained why he believes the current market rules make manipulation inevitable. Now we have a full video interview with this token mastermind.
“I’m 20. I got into the crypto business when I was 18,” he said. “I was studying at the university, there were some problems in my family, let’s put it this way, and I needed money. I got an entry-level job at a crypto startup. The main part of my salary was in tokens, I trusted that startup, I knew absolutely nothing about the crypto industry.”
At that startup, Andryunin was in charge of listing tokens on exchanges and on CoinMarketCap. He soon realized he was in a tough spot.
“CoinMarketCap at the time required the daily volume as high as $100,000 to list a token, and those exchanges gave us pennies, absolutely nothing – like, $100, $200, $300 – and that was not so bad as it was right after our ICO,” he said.