Coinbase CEO Brian Armstrong said that he has changed the listing procedures to prevent insider trading.
Coinbase, the largest US crypto-asset trading platform, seems to be focusing on insider trading, which has been a hot topic in the crypto community. CEO Armstrong said in a blog post published Thursday that he has implemented new procedures to thwart insider trading. The platform aims to prevent people who take advantage of the on-chain data by announcing their listing decisions before the crypto asset is integrated into the stock market. Armstrong said:
“While this is public data, it is not data that all customers can easily access. Therefore, we are working to eliminate this information asymmetry.”
Armstrong also addressed the widespread suspicion that Coinbase employees were insider trading. Acknowledging the existence of such a possibility, the CEO, on the other hand, stated that the company has “zero tolerance” in this regard and would not hesitate to dismiss the employees immediately if detected.
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