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The class action lawsuit filed on behalf of all Coinbase traders alleges that customers suffered monetary damages as a result of Coinbase employees' insider trading activity around its support for Bitcoin Cash trading in December of 2017. There has still been no announcement on the results of the company's internal investigation into the activity.
Accusations of insider trading prompted Coinbase CEO Brian Armstrong to write a post the following day describing trading policies for employees at Coinbase. According to Armstrong, “all Coinbase employees and contractors were explicitly prohibited from trading Bitcoin Cash and from disclosing our launch plans over a month ago.” Armstrong also said the company would be conducting an investigation into insider trading among Coinbase employees.
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