“There were obviously tremendous price increases last year, and this paper indicates that manipulation played a large part in those price increases,” Mr. Griffin said.
Bitfinex executives have denied in the past that the exchange was involved in any manipulation.
The company said on Wednesday that it had never engaged in “any sort” of market or price manipulation.
The authors of the new 66-page paper do not have emails or documents that prove that Bitfinex knew about or was responsible for price manipulation.
A paper published last year by a team of Israeli and American researchers said much of Bitcoin’s big price increase in 2013 was caused by a campaign of price manipulation at what was then the biggest exchange, Mt.

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