Coinbase Nether Burn - Halted Trades, Accusations Of Insider Trading Together With Corruption...

CoinBase/GDAX are currently taking a lot of oestrus from users on twitter, facebook, reddit every bit good every bit some slack in addition to telegram channels... well, basically anywhere people are discussing crypto.

Their proclamation of supporting Bitcoin Cash on their platform speedily came to a grinding halt, every bit trading was suspended only minutes later.

According to posts on their ain condition page, they managed to component division solely a disappointing iv minutes earlier halting:

17:20 PST - Trading is instantly enabled on the BCH-USD social club book 

17:24 PST - The BCH-USD social club majority is dorsum inward post-only mode. We volition post an update shortly.

Accusations of to a greater extent than serious foul play are flight only about every bit well,  every bit people noticed what they tell were abnormal purchases of Bitcoin Cash presently earlier CoinBase's official launch - in addition to it has some claiming in that place was insider trading.  With thousands of tweets making claims like:

I dont attention how you lot while it, this is INSIDER TRADING! Someone alongside alot of Bitcoin knew @coinbase would add together Bitcoin Cash BCH in addition to took i BIG chunk of net turn a profit from the #flippening. Whoever you lot are you lot are your making crypto expect similar wall st. Shame on you. pic.twitter.com/g9YU9jGm0T

— CryptoSoldier (@NoTimeToSearch) December 20, 2017

Which fifty-fifty prompted CoinBase to tweet to critics:

Coinbase maintains a strict trading policy in addition to internal guidelines for employees. Coinbase employees induce got been prohibited from trading inward Bitcoin Cash for several weeks.

— Coinbase (@coinbase) December 20, 2017

There was indeed an uptick inward Bitcoin Cash purchases only minutes earlier CoinBase's update, although no definitive proof of why.

Currently traders on Coinbase in addition to GDAX are out of luck, the concluding give-and-take from CoinBase at fourth dimension of publishing this article is:

 "All BCH books volition come inward cancel-only mode, in addition to all existing orders volition hold upward cleared. While inward cancel-only mode, no novel orders volition hold upward accepted. We volition post an update shortly. "

In the meantime, this is leaving many questioning what the actual cost of Bitcoin Cash is - at i signal GDAX listed it at $9500, but on other exchanges it's going for extremely lower - only about $3400.

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Author: Ross Davis
San Francisco News Desk