TLDR: Cointelegraph market manipulated, caused damages, legal action is possible.
We all know about the Cointelegraph "Bitcoin ETF was approved" tweet. It shaked the market with a Bitcoin sharp price increase followed by an almost immediate dump after Cointelegraph retracted.
Make no mistake: someone inside Cointelegraph made big bucks on this, and this was a clear-cut case of market manipulation where the insider (the person who approved/ordered the tweet) caused something called a false market.
A false market occurs when prices are manipulated and impacted by erroneous information, preventing the efficient negotiation of prices. These types of markets will often be marred by volatile swings because the true value of the market is clouded by misinformation. (Source)
If you lost money because of this (as in you had positions liquidated and/or arguably panicked because of the news) it's legally arguable you could sue Cointelegraph for damages.
This, SBF, Bitconnect, USDT etc. are the kinds of events that push governmental bodies and the SEC to have a stronger stance against Crypto as a whole.
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