>a former Coinbase employee used a manipulative or deceptive device by intentionally placing buy and sell orders in the Litecoin/Bitcoin trading pair on GDAX that matched each other as wash trades. This created the misleading appearance of liquidity and trading interest in Litecoin. Coinbase is therefore found to be vicariously liable as a principal for this employee’s conduct.
>According to the order, between January 2015 and September 2018, Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets, including Bitcoin, on the GDAX electronic trading platform it operated. During this period, Coinbase operated two automated trading programs, Hedger and Replicator, which generated orders that at times matched with one another. The GDAX Trading Rules specifically disclosed that Coinbase was trading on GDAX, but failed to disclose that Coinbase was operating more than one trading program and trading through multiple accounts.
There is nothing whatsoever that says that the given employee is Charlie Lee.
Since you are the one here making that claim, isn't that exposing you to slander if it turns out to be a false?
On top of it you seem confused by the two different things addressed by the linked CFTC statement, the litecoin related thing (Litecoin/Bitcoin trading pair) happened in August & September 2016 (6 weeks total) and you are confusing it with the inaccurate reports during January 2015 and September 2018 which is a separate point.
jmoak3|3 years ago
Have you read the CFTC's fines for Coinbase's wash trading between Litecoin/Bitcoin in 2016 to pump up volume?
https://www.cftc.gov/PressRoom/PressReleases/8369-21
From the fine:
>a former Coinbase employee used a manipulative or deceptive device by intentionally placing buy and sell orders in the Litecoin/Bitcoin trading pair on GDAX that matched each other as wash trades. This created the misleading appearance of liquidity and trading interest in Litecoin. Coinbase is therefore found to be vicariously liable as a principal for this employee’s conduct.
I wouldn't be surprised if Jeff here is correct in his guess of who did this: https://twitter.com/jeffjohnroberts/status/13730545911604838...
>According to the order, between January 2015 and September 2018, Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets, including Bitcoin, on the GDAX electronic trading platform it operated. During this period, Coinbase operated two automated trading programs, Hedger and Replicator, which generated orders that at times matched with one another. The GDAX Trading Rules specifically disclosed that Coinbase was trading on GDAX, but failed to disclose that Coinbase was operating more than one trading program and trading through multiple accounts.
skylabmelody|3 years ago
unknown|3 years ago
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