Price discovery is the process by which trading aggregates dispersed information into a price. Manipulation is harmful precisely because it injects false information into that process, and the damage is borne by everyone who relies on the resulting price.
law and enforcement · updated 2026-10-16
See also
Artificial price— An artificial price is one that does not reflect the genuine forces of supply and demand. Proving artificiality is a required elem…
Market manipulation— Market manipulation is conduct that interferes with the honest formation of a price — through fake orders, coordinated trades, fal…
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