Study: Insider trading occurs in 10% to 25% of cryptocurrency listings
The study found abnormal levels of return in a sample of tokens just before their listing announcement on Coinbase. According to a recent study conducted by the University of Technology Sydney, researchers estimated that insider trading occurs in 10% to 25% of cryptocurrency listings.In deriving the conclusion, researchers first sampled 146 token listing announcements on cryptocurrency exchange Coinbase between September 25, 2018, and May 1, 2022. Afterward, researchers examined the price movements of the sampled tokens in the time interval of 300 hours before Coinbase listing....
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U.S. officials are reportedly investigating crypto exchange Binance yet again. On Friday, Bloomberg reported that they are examining possible insider trading and market manipulation at Binance. This development potentially adds more heat to the cryptocurrency exchange already facing regulatory scrutiny in many countries. CFTC’s Insider Trading Investigations U.S. officials have been looking into whether Binance or […]
The U.S. Securities and Exchange Commission (SEC) has announced insider trading charges against a former Coinbase manager, who has been arrested and is also facing criminal charges. The regulator has identified nine crypto tokens as securities in the complaint. U.S. Attorney Damian Williams says it is “the first-ever insider trading case involving cryptocurrency markets.”
SEC Charges Former Coinbase Manager, His Brother, and a Friend — 9 Crypto Tokens Identified as Securities
The U.S. Securities and Exchange Commission (SEC) announced Thursday....
Ishan Wahi is accused of divulging confidential information about future listings at Coinbase to his brother and an associate in a case that has attracted the SEC’s attention. Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi is accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was arrested in May as he attempted to board a flight to India and was charged in....
The brother of a former Coinbase product manager has pleaded guilty in a cryptocurrency insider trading case. According to the U.S. Department of Justice (DOJ), he is facing up to 20 years in federal prison.
DOJ’s First Crypto Insider Trading Case
The U.S. Department of Justice (DOJ) announced Monday that Nikhil Wahi, the brother of a former product manager at Coinbase Global Inc. (Nasdaq: COIN), “pled guilty to one count of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets.” The DOJ calls it the....
Japan has decided to smoothen out the process that involves giving a green signal to new cryptocurrency listings. This simplification is aimed towards uplifting and amplifying the overall crypto market’s stance in Japan. More cryptocurrency listings would start to operate in the country as opposed to how the situation was in the past, promoting healthy […]