Armstrong said that all Coinbase employees and contractors were "explicitly prohibited" more than a month ago from trading in bitcoin cash and from revealing launch plans.
"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", Coinbase said in its announcement via a blog post. It wouldn't legally be considered insider trading because cryptocurrencies aren't securities, but the allegations, if true, would raise many questions about the company's trustworthiness.
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. "Given the price increase in the hours leading up to the announcement, we will be conducting an investigation into this matter".
Bitcoin Cash first surfaced online back in August when a group of developers "forked" the Bitcoin blockchain.
Although bitcoin cash was already rising steadily before Coinbase enabled trading of it last night, it was trading at a significant premium on the platform versus the rest of the market. But just minutes after opening, Coinbasesuspended trades and eventually canceled orders. The price that Coinbase displayed was also nearly triple what was being quoted on other exchanges.
It's not certain when Bitcoin Cash transactions will return to the exchange. If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action. Even with futures trading and tighter regulation in place to add some stability, virtual money still tends to be volatile - it doesn't take much to create havoc.
India won ODI series against Sri Lanka
Sharma and his men will look to ride the momentum after a big win in the second game and seal the series at the ACA-VDCA stadium. The bowlers, on the other hand, will look to recover quickly from the horror show as Rohit turned on the heat.
Geminid Meteor Shower Peaks Wednesday Night
To increase the chances of seeing meteors, choose a site at least 40 miles from a major city, Astronomy.com said. This year is especially good because the moon will be a thin crescent, so moonlight should not interfere.
Flu Is Now 'Prevalent' In New York
So his teeth were set on edge by a recent study showing the effectiveness of this year's flu shot could be as low as 10 percent. Go to https://www.vaccinefinder.org to find a location near you where you can get vaccinated.
Instagram Testing A 'Direct' Snapchat Clone On Android
The app is now available today in six countries: Chile, Israel , Italy , Portugal, Turkey, and Uruguay, on both, iOS and Android. And if you swipe right in the same fashion within Instagram , you'll see the Direct logo and you'll jump into the Direct app.