News Posts matching "Insider Trading"

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Only Somewhat Classy: Coinbase Hit With Multiple Class Action Lawsuits

Coinbase, which is mostly regarded as one of the most transparent, well regarded cryptocurrency exchanges in the cryptocurrency world, is now being hit with class action lawsuits on themes it would really not like to be associated with. Readers should think on which one of these is worse: insider trading, or crypto theft. For a company that's apparently trying its hardest to become a bastion of transparent crypto trading, going so far as to share data on 13,000 customers to the IRS, these class action lawsuits, if proven, will do irreversible damages to the company's standing.

The insider trading class action lawsuit revolves around the introduction of BCH (Bitcoin Cash) to its staple of tradeable cryptocurrencies. Now, here's the thing: it's nigh impossible for a company not to do, or not to be accused of, to be more precise, of insider trading on this thing. It's almost guaranteed that the company would have invested on Bitcoin Cash in the early stages of its fork and spin-off from Bitcoin. And the company controls at which times they'll enable trading of the cryptocurrency on their platform - an announcement and move which would certainly increase awareness and trade volume on that cryptocurrency, both before and after it's been actually integrated into the exchange. This class action lawsuit is being headed by Jeffrey Berk, who's representing all customers that placed buy, sell or trade orders for BCH between December 19 and December 21, 2017.
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