Breaking
Link copied Coinbase Denies Insider Trading Allegations in Federal Lawsuit
Coinbase, one of the world's largest cryptocurrency exchanges, has denied allegations of insider trading by several of its executives during the company's public listing earlier this year. The company issued a statement expressing its commitment to transp
Image by: Ivan Radic / Flickr
Thu, 04 May 2023, 05:44 am UTC
Executives at Coinbase, one of the world's largest cryptocurrency exchanges, are facing a lawsuit alleging that they profited from inside information during the company's public listing earlier this year.
The lawsuit, filed in federal court in California, alleges that the executives sold shares worth millions of dollars just hours after the company went public, based on information that was not available to the public.
The lawsuit names several executives, including Coinbase CEO Brian Armstrong, and accuses them of violating federal securities laws.
The plaintiffs claim that the executives had knowledge of Coinbase's strong financial performance prior to the public listing and that they used this information to sell their shares at inflated prices.
The lawsuit comes as regulators in the United States are scrutinizing the cryptocurrency industry more closely. Earlier this year, the Securities and Exchange Commission (SEC) delayed its decision on whether to approve a Bitcoin ETF, citing concerns over market manipulation and investor protection.
Coinbase went public in April of this year in a highly anticipated IPO that valued the company at over $80 billion. The company's listing was seen as a milestone for the cryptocurrency industry, signaling greater mainstream acceptance of digital assets.
In response to the lawsuit, Coinbase issued a statement denying the allegations and asserting that the company's executives complied with all applicable laws and regulations. The company also expressed its commitment to transparency and accountability and pledged to defend itself against the allegations.
<Copyright © TokenPost. All Rights Reserved. >
-
PUBLISH (NEWS)
$0.000553 (-19.57%)
-
Bitcoin (BTC)
$26,346.50 (-0.86%)
-
Ethereum (ETH)
$1,591.54 (+0.02%)
-
Tether USDt (USDT)
$0.999898 (-0.01%)
-
BNB (BNB)
$210.15 (-0.18%)
-
XRP (XRP)
$0.501330 (-1.50%)
-
PUBLISH (NEWS)
$0.000553 (-19.57%)
Jul 15, 2021 (Thursday)
13:30 
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Popular news
