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.



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