Chastain left OpenSea after he was accused of insider trading. Some crypto enthusiasts believe Nate Chastain, the former product head of OpenSea, is the owner of the wallet. Though the owner of the digital wallet in question has not been revealed, it appears as though cryptocurrency influencers who have performed their research on the matter believe a Coinbase employee owns the wallet. Furthermore, the wallet strictly contained cryptocurrencies on the recently released Coinbase list, making it quite clear that Coinbase insider trading is occurring. It is particularly interesting to note that the wallet contains nearly $90,000 of Kromatika and $20,000 of Dope Wars Paper. The value of these coins has increased following Coinbase’s announcement of their consideration for addition to the platform. The digital wallet’s assets were purchased merely one day prior to the announcement that the coins were up for consideration for listing on the platform.įound an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl /5QlVTjl0Jp- Cobie April 12, 2022Ĭobie announced the details on Twitter, highlighting the account holder in question purchased DFX Token, RAC, DappRadar, Dope Wars Paper, Indexed and additional coins. Cobie found a wallet containing hundreds of thousands of dollars of the assets in question. The publication of the new altcoins up for consideration prompted Cobie, a prominent cryptocurrency influencer, to perform some research. Though this development is certainly concerning, the silver lining for cryptocurrency investors is the fact that there is industry transparency and a system of checks and balances to identify potential corruption. However, it appears as though the move backfired as the supposed insider trading has ultimately reduced investor confidence in the platform’s asset listing system. Information About The New Coin ListingsĬoinbase’s April 11 blog post that identifies the new altcoins up for consideration to be listed on the platform between April and June was supposedly publicized in an attempt to boost transparency.
Sadly, this is not the first accusation of Coinbase insider trading and it might not be the last. In other words, it appears as though Coinbase’s attempt to be transparent has ultimately indicated that insider trading is occurring at the platform.ĭig through the details of the Coinbase insider trading allegations and you will find a six-figure purchase of the coins in question shows insiders likely had knowledge of the coins that would be added to the platform prior to the public. Message board users performed on-chain digging and determined a supposed insider has purchased a considerable amount of the tokens in question, most of which soared after the platform’s announcement. Surf the web on over to Reddit or Twitter, search for “ Coinbase insider trading” and you will find all sorts of posts about obscure coins that the platform has pushed for a listing on the exchange. Coinbase is a publicly traded stock with the symbol of COIN. Making matters worse is the fact that a digital wallet containing the coins in question has been identified.
However, the vast majority of the coins on the list are relatively unknown, spurring rumors that Coinbase insider trading might be occurring. Coinbase recently released a transparency post in which it identified 50 assets that will be listed on the exchange. Rumors are swirling around the internet that Coinbase insider trading is running rampant.