Coinbase looking into insider trading following Bitcoin Cash launch

The Insane Hour After Coinbase Added Bitcoin Cash Is Leading to An "Insider Trading" Investigation

GDAX, the digital asset exchange run by Coinbase, has resumed trading of bitcoin cash hours after its initial - and tumultuous - effort to launch a market for the breakaway cryptocurrency. He plans to terminate any employee found violating company policy and take appropriate legal action.

Trading in bitcoin cash will be suspended until 1200 ET (1700 GMT) today, a Coinbase status page showed.In a blogpost, Coinbase said it suspended trading in Bitcoin Cash because of significant volatility. The exchange did this to ensure a "fair and orderly market". Historically, the price trend of bitcoin has had an inverse relationship with the short-term performance of alternative cryptocurrencies.

Back in August, the bitcoin blockchain "forked" when supporters could not agree on potential changes to the size of Bitcoin blocks. This means that all the retail and professional traders registered on Coinbase can now trade directly in BCH. Further, one of the biggest exchanges supporting Bitcoin Cash leads to the assumption that prices of the cryptocurrency would rise in the future.

Bitcoin Cash prices surged to almost $9,000 on Tuesday prior to the announcement going live. "Factors we considered include developer and community support, security, stability, market price and trading volume". Armstrong added that Coinbase is now looking into the matter.

Gas prices continue to decline in Chattanooga
So far this year, the highest average price in Florida was $2.73 on September 9 and the lowest was $2.13 on July 17. Statewide, prices at the pump averaged $2.38 on Sunday, down 3 cents over the week and the lowest since August 30.

The price of bitcoin cash rose rapidly, likely due to the announcement from Coinbase that it would allow it to be traded on its GDAX exchange.

"We have been monitoring the bitcoin cash network over the last few months and have chose to enable full support including the ability to buy, sell, send and receive", the exchange said.

Something similar happened yesterday when Coinbase finally added Bitcoin Cash to the platform. While there's "no indication of any wrongdoing at this time", he said that "we will be conducting an investigation". Once paused, we cancelled resting orders and cleared all BCH order books. CEO Brian Armstrong wrote in a separate post that the company would investigate whether staff or contractors had acted on "material non-public information"-basically, insider trading".

Bitcoin Cash is now the world's third biggest crypto-currency with a total market capitalisation of about $59bn, according to Coinmarketcap.

Related:

Comments

Latest news

Evan Longoria traded by Tampa Bay Rays to San Francisco Giants
However, there is a potential high reward which could return, Longoria is just one year removed from a 36-homer campaign. The Giants have been looking for right handed power and an everyday third baseman since the off-season began.

Fight over Justin Bieber puts Selena Gomez's mum in hospital
The celebrity gossip site reports that Teefy had an unpleasant talk with Gomez about her rekindled relationship with Bieber. Teefey went on, "Then, I came home to [her husband] Brian and [youngest daughter] Gracie to send our love to Scarlett ".

Some People Are Reporting Google's USB-C Headphone Adaptors Aren't Working
Some users say that rebooting the Pixel 2 or Pixel 2 XL will temporarily fix the issue , as pointed out by Android Police . Google started rolling out the Android 8.1 Oreo update earlier this month to supported Pixel and Nexus family of devices.

CCTV footage shows terrorists entering Quetta's church premises
Meanwhile, SSP Operations said that two attackers were killed in the exchange of fire between the terrorists and security forces. The Islamic State group has claimed responsibility for the attack and for several other attacks in Baluchistan in recent years.

Gorsuch Basically Wrote a Love Letter to President Trump After SCOTUS Nom
The letter was produced for Trump and he took a look at it on March 10, according to legislative affairs director Marc Short. Consequently, Trump was "tempted to pull Gorsuch's nomination", saying plenty of other judges would want the job.

Boy, 5, Calls 911 On The Grinch
TyLon, who wants to be a cop when he grows up, was able to help the officers find the "suspect", who officers took into custody. He then told the boy that when he is 21, to return to the police station and fill out a job application.

U.S. vetoes UNSC resolution on Jerusalem
This has infuriated the Palestinians and Arab countries, which have strongly protested against the U.S. move. Trump had merely stated a fact by recognising that Jerusalem was the capital of Israel.

Danica Patrick, Ricky Stenhouse Jr. Are 'No Longer in a Relationship'
She has competed full time in the NASCAR Cup Series the last five years following a transition from IndyCar . He said after the press conference that he supported Patrick's decision to step away from racing.

Pop Star Jonghyun Of SHINee Dies At 27
The singer, who performed under the name Jonghyun, was found unconscious in a rented Seoul apartment on Monday evening. Police were called to the residence after his sister told officials he had sent her a group of worrying text messages.

QC Salvation Army is behind in Red Kettle campaign
Typical requests are clothing for youths and small toys. "These are families that are in need", he said. "It went well", he said. The Wheeling Salvation Army crossed Ohio County off their list for the Angel Tree, presenting the families with their gifts.

Amtrak Train Derails on Highway Bridge in Washington State
Local officials had warned only weeks ago that the track still might not be safe enough to handle trains at higher speeds. The previous coastal route often encountered single-track tunnels that freight trains also shared, slowing down service.

'SNL' has Christmas message from Baldwin's Trump
Now if SNL can just bring that same bite to Alec Baldwin's Trump sketches. "It will soon be replaced by the 'War with North Korea'".

Trump Critics Think the Robert Mueller Email 'Scandal' Is Baloney
He did not name the transition officials who used the devices. "I was at dinner last night with the President and Vice President". Jay Sekulow, an attorney on Trump's personal legal team, referred questions to the transition group.

Celtic manager Brendan Rodgers reacts to humiliating Hearts defeat
Celtic will return to action on Wednesday when they host Partick Thistle at Parkhead. Celtic boss Rodgers admitted Hearts deserved to end the run.

Trump, Putin Welcome Foiled Terror Attack as Positive Example of Cooperation
The White House did not disclose details about the plot itself, but said the attack "could have killed large numbers of people". Returning militants from Syria pose a real threat to Russian Federation , the head of the FSB was quoted as saying on Tuesday.

Other news