Trading of Bitcoin Cash temporarily suspended pending an investigation

Trading of Bitcoin Cash temporarily suspended pending an investigation

Coinbase Inc., one of the most popular US cryptocurrency exchanges, is investigating allegations of insider trading on its platform in the hours before the company announced it would enable purchases of the bitcoin spinoff known as bitcoin cash.

The allegation from some critics was that Coinbase staffers could have purchased Bitcoin Cash - or BCH - on other exchanges at a lesser value - all the while knowing it was about to open for public trading. An investigation into the bitcoin cash increases is underway at a major cryptocurrency exchange this morning. However, on GDAX (Coinbase's trading platform), it simply exploded, which has lead Coinbase to consider the possibility of insider trading.

On its blog, Coinbase said the service of buying and selling Bitcoin Cash was available on its exchange, GDAX.

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Systems bought the IP rights formerly held by Holding, using an intercompany loan from its Lichtenstein parent company. Another ruling from the Dutch tax authorities approved the price paid by Systems for the acquisition of the IP.

The company is investigating the possibility of insider trading by its employees who had prior knowledge of the announcement.

Bitcoin cash surged in the hours before the San Francisco-based company's announcement, while bitcoin prices tumbled the most in two months. Speculation is that is has caused a shift from users in bitcoin to that of bitcoin cash.

Armstrong also emphasised that he had told Coinbase employees through several channels that they were prohibited from trading bitcoin cash in the weeks leading up to its launch on GDAX. He plans to terminate any employee found violating company policy and take appropriate legal action. "Given the price increase in the hours leading up the announcement, we will be conducting an investigation".

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Hired in 2003, Lewis has been the NFL's second-longest tenured head coach behind Patriots' Bill Belichick. The question now is if they can muster some positive emotion to compete with a likely playoff-bound foe.

Bitcoin cash was created as an offshoot of the original bitcoin in August. The price that Coinbase displayed was also nearly triple what was being quoted on other exchanges.

While Coinbase briefly enabled orders to be posted in US dollars on its platform for more sophisticated traders, it suspended the facility after two minutes due to "significant volatility", the company said in a blog post.

"We've had a trading policy in place for some time at Coinbase".

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