CEO of Circle questioned the paper "Single Whales Drive 2017 BTC Rise"

Bloomberg previously reported that University of Texas professor John Griffin and Ohio State University's Amin Shams updated their first paper published in 2018, saying that a single whale boosted Bitcoin's surge in 2017. Circle CEO Jeremy Allaire questioned this and said the research on this topic was completely wrong. In a series of tweets, Allaire explained that the entire paper's allegations were made up of “extremely weak reports” and that the person reporting the matter did not understand how the stable currency worked. Allaire said that he could not see any logic of the idea.