We are constantly monitoring the internet for new developments related to Bitcoin as well as other cryptocurrencies, and this time we have spotted a Reddit post about possible insider trading which is occurring at Coinbase. If this is the case then there is a lot of explaining which needs to be done and we have already started asking the hard questions.
As a response to the thread on Reddit, Coinbase has swiftly responded that they will be increasing transparency and provide as much “information symmetry” as possible.
Coinbase: Is There Any Truth To Recent Allegations Related To Insider Trading?
If this is starting to sound like politicians or lawyers talking instead of regular every-day people then you are not mistaken. This type of evasive response is very troubling and lacking in clarity. So if you are looking for a yes/no answer you will not find it here.
In the thread Alan has stated that a Coinbase “insider” purchased coins valued at $10K, and after 2 hours it was valued at $131K. The responses range from sheer outrage and disgust to total shock. The writers of this post personally own digital assets and for that reason tend to view this type of activity as unacceptable.
However, everyone should know that digital currencies are unregulated and for that reason considered more prone to volatility. That being said, the market always has a way of fixing itself and regressing towards the acceptable average. If you disregard the static and focus on the numbers you actually stand a chance of making a few bucks.
If you HODL or own cryptos please let us know your feelings about it and don’t forget to share this article if you find it useful or informative.