The parliamentarian believes that the release of important news about crypto-currencies is deliberately delayed
Member of the South Korean parliament, Ha Tay Ken believes that the authorities and journalists are involved in a conspiracy that affects the trade in crypto-currencies and helps to enrich a narrow group of individuals. In his opinion, the information that the South Korean government will not close the crypto-exchange was reported as much as 40 minutes later than it could – this provided an opportunity to multiply its assets to interested people.
In other words, the parliamentarian sees in journalists’ behavior, the so-called embargo – a common practice among journalists around the world. The embargo can be applied when all the journalists get information about an event at the same time, they can agree on a certain time of news release, and “won” or more accurately say “stolen” time to use for personal enrichment purposes.
As an example, Ha Tay Ken cites a recent delay in the news that the South Korean government will not close the stock exchanges – information about this decision was reported to journalists at a press conference at 9:00 am, but the news of this the world saw only after 40 minutes. Within an hour after the release of the news, the price of bitcoin grew by as much as 5%, and it was an easily predictable jump, and most likely journalists and people who had access to such insider information used these 40 minutes “hitching” in order to buy as much bitcoin. He said this during the Congress of the National Assembly.
“After the government representatives sent a text message to journalists stating the time of the embargo, the price increased by 2%, and when the first reports appeared after 9:40, another 5%. Total people were able to get instant growth of assets by 7%, thanks to insider information, “- explained the legislator.