BCH Insider Trading Reportedly Conducted Via Coinbase With “Huge” Returns

post image

Allegedly, there has been disclosed a case of not so long ago forked Bitcoin Cash insider trading, conducted through the Coinbase, which is a well-known cryptocurrency exchange, by an unknown person. Such a conclusion have been made by the Forbes contributor John Koetsier, who reported about the case, referring to the information, provided to him by an entrepreneur and the crypto amateur Albert Renshaw.

What happened?

According to Renshaw’s words, he discovered an example of insider trading on Bitcoin Cash addition to Coinbase as well as to GDAX, which also is the platform for swapping cryptocoins. The entrepreneur also claimed that the consequence of such a trading could be an abundant 700% one-hour gain.

Our top trading bots

The story is significant, as long as a day before Coinbase officially announced its support for Bitcoin Cash, which was executed this year August, somebody under the nickname “mukiva2” posted on Reddit a note, saying "Bitcoin Cash coming in the next few days”. The pre-announcement took place on December 18. After that, Bitcoin Cash values instantly surged up. As Renshaw told Koetsier, the likely gains, in this case, could be enormous. Bitcoin Cash grew from $1,000 to $8,000 just per hour.

“The stakes are huge when a cryptocurrency enters the big exchanges. Suddenly a cryptocurrency that might have only been available to a few people with specific digital wallets is available to a much larger audience of potential buyers,” explained the Forbes contributor Koetsier. “While Coinbase had publicly revealed that it would support Bitcoin Cash at some point, the exact timing was unknown.”

It means that people who piled into Bitcoin Cash $150,000 before the adoption stood to gain more than $1 million not long ago after the exchange released its notification.

Currently, it is unknown who “mukiva2” is, but the person revealed on the Reddit thread that he or she could be an inside source to Coinbase. According to Forbes, the exchange has detected the price growth and started an inland probe.

Venezuelan Petro Available For Public Sale
After months of delay, Venezuela’s site for purchasing Petro.  #Enterate || El Petro podrá ser adquirido por personas jurídicas y naturales desde su...
IBM, Alibaba or Bank of America? Here’s Who Filed The Most Blockchain Patents
DLT has become a cornerstone of a rivalry between prima tech and financial titans, IBM, Alibaba, and Bank of America. Two companies are fighting for the...
Square Got License to Trade Cryptos in New York, Letting Bitcoin Soar
Cash App, a person-to-person payments service, can now be used by New Yorkers to trade cyber coins. The app is a small business service provided by a financial...
Snoop Dogg To Perform Live At Ripple’s VIP Event
Snoop Dogg is going to perform live at a closed crypto-event, hosted by the company which runs the third most valuable cyber-coin in the world – Ripple....
JPMorgan Chase Officially Admits Bitcoin Can Destroy Banks
It’s official. JPMorgan Chase, the largest US lender, has admitted that cyber money as well as peer-to-peer tech trend, could destroy traditional financial...
50 Cent Dispelled Rumors That He is a Bitcoin Millionaire, Doesn’t Regret Them
Nearly a month ago media outlets massively reported that famous rapper 50 Cent had become a bitcoin millionaire thanks for the decision to accept BTC...
ICO Will Solve Problems Of The Unemployed
In Berkeley, California, is considering the possibility of holding an ICO to raise funds to deal with the city's current problems, for example, related...
New Report Shows China’s Intentions to Forbid Foreign Exchanges, ICOs
Earlier in mid-January Bloomberg, referring to people aware of the case, reported that Chinese government planned to ban internal access to Chinese...
DECENT Published A Roadmap For 2018
The DECENT company told what users should expect from the project in 2018. A fresh version of the roadmap appeared on the project website. As you can...
Skychain Will Change The Ecosystem Of Neural Networks
Think about this figure: only in the EU and the US more than half a million patients a year die due to a misdiagnosed diagnosis and related complications...
Pavel Durov Will Release His Cryptocurrency This March
The most fashionable instant messenger Telegram plans to launch a preliminary ICO. The goal is to earn $500 million in investments in its own blockchain...
Wall Street Bull Tom Lee Says Bitcoin Could Effortlessly Double in 2018
Bitcoin might not be having the best time of its existence right now, as it is going through a series of price swings. Today, on January 11, the most known...
Each Coin Is A Barrel: Meet The OilCoin
US Bankers and Bart Chilton, a former member of the Commodity Futures Trading Commission, announced the creation of the oil cryptocurrency OilCoin. It is...
Bitcoin Grows Amid News That Elon Musk’s Rival Piles Millions Into BTC
The person, who around 17 years ago took Elon Musk’s position of the CEO at PayPal within the leadership feud, has now hit the headlines regarding cryptocurrency...
Top 5 Blockchain Trends 2018
Many people discuss the high potential and the revolution in blockchain technology. But only this year, the concept began to attract the public attention....