2 November 2024
Crypto Exchange Coinbase Accused of Insider Trading
Many times, Coinbase listings have significantly impacted the market. Tokens that get listed on the platform generate big profits. However, many have raised questions about the integrity of the exchange’s listings and backed the narrative advanced by those who sided with them.
Since the start of the last week, Coinbase has accepted several Cryptocurrencies. Many have disputed this claim because most of the assets were reported to be fraudulent ventures.
Coinbase, in its blog post, stated that the reason behind listing several digital assets is to move towards more openness. One of the Twitter users, Cobie claim, that the listings things taken a new direction. Cobie tweeted that an ETH wallet made significant purchases of tokens and sent them to Coinbase less than 24 hours later.
Though it seems a coincidence, the user had only acquired tokens that Coinbase had previously identified as interesting. After seeing its public trading history, the public started to suspect Coinbase of insider trading.
Some of the assets acquired by the wallet were Indexed [NDX], Kromatika [KROM], DappRadar [RADAR], RAC [RAC], DFX Token [DFX], and Paper [PAPER].
Twitter users quickly started to flood identical tweets claiming Coinbase to be involved in insider trading. XYO, FOX, and RG were discovered by another user.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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