So about an hour and a half ago a user posted about Coinbase being insolvent and having trouble withdrawing their funds, recommended transferring everything out of Coinbase. Whether this was FUD or a prophecy that will be proven truthful can only be confirmed with time, but it did get me thinking. Can somebody use this sub with it's 5 million members to manipulate the price of a certain asset and then sell to make a quick profit?
Yeah I know it sounds kind of crazy but hear me out, this last post prompted me to quickly go to Coinbase where I had some USD sitting and purchase ALGO to transfer out and then convert to USDC somewhere else. So if a large enough percentage of the people on this sub did the same as me with ALGO, XLM or LTC it could cause a short term spike in the price and make someone a quick profit. I might also just be crazy but had to ask.
TLDR: Could somebody manipulate this sub with FUD into purchasing low transfer fee cryptos so make a quick buck?
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