Crypto Ranking Site Accused Of Manipulating Token Price

By Elise Hansen (September 15, 2021, 5:30 PM EDT) -- A cryptocurrency investor has hit digital asset ranking site CoinMarketCap with a lawsuit claiming the platform unfairly suppressed the ranking of an up-and-coming token that posed a competitive threat to its corporate owner.

Arizona resident Ryan Cox argued Monday that CoinMarketCap unfairly ranked digital asset HEX far below its true stature in the cryptocurrency space, keeping its profile — and therefore its price — unfairly low. CoinMarketCap allegedly took this step to benefit global cryptocurrency exchange, after being acquired by a Binance entity last year.

"Though HEX was the best-performing cryptocurrency of 2020, locked HEX's ranking at #201 sometime...

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