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Coinbase May Be Guilty of Insider Trading

Coinbase Insider Trading Saga Using blockchain, the researchers examined 146 Coinbase token listings, six of which made their debut on Coinbase.

Tracking their prices 300 to 100 hours before each listing went live on the exchange and looking for abnormal trading patterns of the assets on decentralized exchanges, the paper revealed that insiders earned a massive $1.5 million in trading profits. In July 2022, crypto. News reported the arrest of former Coinbase product manager, Ishan Wahi, by the US Securities and Exchange Commission.

Ishan, along with his brother and one other, allegedly profited $1.1 million by using inside knowledge of the cryptocurrency exchange listings. Earlier this month, he and his brother, Nikhil Wahi, pleaded «not guilty» on the basis that the crypto assets in question are not securities. Their lawyer, David Miller, argued that the charges be dropped as the traded crypto assets weren’t under the SEC’s purview.

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