Cobie crypto investor, “I was asked by several powerful crypto industry people to stop tweeting about Coinbase's issues.”
Cryptocurrency investor Cobie says influencers ask him to stop criticizing Coinbase on Twitter.
According to Cobie, some "influential people" in the market asked him to stop reporting on the problems around Coinbase. However, Cobie didn't specify whom exactly he was referring to.
In the words of the investor, the U.S. Justice Department's recent announcement about the arrest of a top Coinbase executive who made $1.5 million from insider trading is just the tip of the iceberg. He added that the exchange is trying to "make itself look like a hero" amid the whole arrest incident, but the trading platform has not taken any actual measures to combat financial fraud:
“I believe the $1.5 million stolen by some employee within a year is just a puff of dust compared to the damage caused by Coinbase's past incompetence.”
Cobie also added that other wallets were actively buying cryptocurrency even before their listing on Coinbase was announced, while the claims of Coinbase founder Brian Armstrong about the exchange actively monitoring for fraud do not stand up to criticism.
The investor stressed that Coinbase leaked information about new token listings through its API until mid-2021. It remains unclear how many people could have accessed this data.
This is not the first time Coinbase employees have been accused of illegal activities. For example, in 2021, the Commodity Futures Trading Commission fined the exchange $6.5 million for money laundering and false information.
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