Insider bitcoin cash trading at Coinbase? Exchange to investigate

Bitcoin Cash: Why the rival cryptocurrency has sent Bitcoin's price plummeting

"We have been monitoring the bitcoin cash network over the last few months and have chose to enable full support including the ability to buy, sell, send and receive", the exchange said.

It was not immediately clear if allegations of insider trading would cause any interest from regulators.

Back in August, bitcoin split into two, creating Bitcoin Cash, in what's called a "hard fork". There is ongoing discussion in the cryptocurrency community about how to contend with long block confirmation times and transaction capacity.

Users will be credited an amount of Bitcoin Cash equal to their Bitcoin balance.

When the fork occurred, several trading platforms like CEX.io offered support for the new currency. Coinbase, on its part, seems to be investigating the matter. The world's largest futures exchange, CME, launched bitcoin futures Sunday, one week after its competitor Cboe Global Markets began trading its own bitcoin futures.

At 8:15 p.m. PT, Coinbase announced, "Bitcoin Cash sends and receives are functional". Buys and sells will be available to all customers once there is sufficient liquidity on GDAX.

At 5:22pm PST, we paused trading in the BCH-USD order book due to significant volatility.

As of press time, BCH is trading at roughly $3,270 on GDAX, compared to $3,353 on Bitfinex and $4,251 on South Korea-based Bithumb. Below, I'm only presenting the BCH/USD chart from December 14, 2017, until December 20, 2017.

And yet more and more skeptics believe it was the inside information, and not the intrinsic qualities of BCH, that made the price spike possible.

On Twitter, cryptocurrency personalities chimed in about the odd activity. Analysts attributed the plunge to an influx of funds to Bitcoin Cash.

Coinbase confirmed that users will be able to buy Bitcoin Cash using all of its supported fiat currencies: USD, EUR, GBP, CAD, AUD, and SGD.

Armstrong notes that Coinbase has strict confidentiality policies and doesn't allow for insider trading.

He added that Coinbase will be conducting an investigation.

"I take the confidentiality of material non-public information very seriously as CEO. This includes to friends and family". As smaller miners become overburdened financially, they turn to Bitcoin Cash, or the "second Bitcoin", analysts say. It prevented its staff and contractors from trading Bitcoin Cash for "weeks" before the launch. This was communicated multiple times via multiple channels to employees.

Traders originally grew suspicious when the bitcoin cash value took a sharp upturn in the hours leading up to the company's announcement, with many suspecting that individuals with insider knowledge of the event procured bitcoin cash at a low rate prior to the launch.

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