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❕NEWS Coinbase fined $6.5 million for misleading investors

Josemendez

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After much investigation , it was revealed by commission future trading commission , that between January 2015 to September 2018 that wash trades artificially created by coinbase inflated Coinbase trading volumes giving an impression of high liquidity. Further it was revealed that the pair used was litecoin / Bitcoin on GDAX.

What effect do you think that this has on coinbase ?
 
Why would coinbase do such thing or they didn't verify the pairs i think , because this might have mislead a lot of investors into loosing a lot
 
It's always good to be honest, especially when you deal with people's money. If Coinbase can successfully prove that the news is fake, there's nothing for it to be worried about.
 
This is a lesson and hope its well learnt as to offer false information in order to help influence the market emotion barely on unverified emotions is not a legal act and you may be liable. Hope they will recover from that huge loss.
 
Bold move for Coinbase.. just because they are the top exchange right now their shady business will be left unnoticed... They should always be truthful because they're dealing with money here
 
They should always verify their information before posting anything , i know that a lot of investors might actually make loss with the mislead
 

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