Something similar happened yesterday when Coinbase finally added Bitcoin Cash to the platform.
Coinbase originally opted not to allow bitcoin cash trading on its platform, but surprised users by reversing its decision on Tuesday. Prior to the public announcement, Bitcoin Cash prices were already surging.
"It appears the price of bitcoin cash on other exchanges increased in the hours before our announcement", Brian Armstrong, chief executive at Coinbase, said in a blog post.
The popular trading platform is working on enabling bitcoin cash trading on its platform but is facing volatility troubles.
Coinbase Investigates Suspicions of Insider Trading for Bitcoin Cash
The start of Bitcoin Cash trading on the Coinbase exchange was supposed to be a great opportunity to get into a major new cryptocurrency while its values weren't yet through the roof, but that's. not how it panned out. As such, he is taking the investigation into insider trading extremely seriously. "Given the price increase in the hours leading up the announcement, we will be conducting an investigation".
Bitcoin cash was created on August 1 when Hong Kong-based exchange Bitfinex said a minority of bitcoin miners would create a new version of bitcoin to make trading faster and easier.
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. He plans to terminate any employee found violating company policy and take appropriate legal action.
In a blog post, Coinbase said they considered "developer and community support, security, stability, market price and trading volume" when deciding to fully support the digital currency.More news: Five-star DE Micah Parsons announces commitment to Penn State
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