Crypto NewsBitcoinGiant Crypto Exchange Facing Inside Trading Allegations!

Giant Crypto Exchange Facing Inside Trading Allegations!

According to the news reflected in the American press, Coinbase executives sold shares using insider information after the public offering.

Follow Bitcoin Sistemi Google News Button

Coinbase, one of the largest cryptocurrency exchanges in the USA, is not getting rid of trouble. Struggling with investigations by government agencies that have taken a tougher stance on cryptocurrencies, Coinbase is now facing a stock-based lawsuit.

According to a report in the global publication Bloomberg, Coinbase executives used insider trading after the IPO, allowing some investors to sell stocks before the drop. According to the prosecution, stockholders who received insider information remained unaffected by the $1 billion loss.

Did Managers Sell Shares?

Investors suing the crypto trading platform blamed CEO Brian Armstrong, Marc Andreessen, and other executives for the incident. According to the indictment, the executives made the sale before the negative news about Coinbase was reflected in the press.

As a result of the sale, the market value of the stock market decreased by 37 billion dollars. Plaintiffs allege that Armstrong and Horowitz made $291 and $118 million in personal sales, respectively.

Coinbase shares, which started their journey at $ 400 on the stock market Nasdaq, are currently trading at around $ 51.



Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week