Crypto influencer thinks there was evil in Coinbase
Crypto influencer Cobie has been the subject of heated debate across social media platforms due to his connection with two major exchanges. As Cobie said via his Twitter account, some members of Coinbase staff have access to him to harm the company.
Two months ago, the US Department of Justice (DoJ) confirmed the arrest of Ishan Wahi, former product manager at Coinbase. In alleged collaboration with two other suspects, authorities in the country claimed that Wahi used his position on the exchange platform to carry out an “insider trading scheme”.
According to the DoJ, Wahi had access to privileged information about future cryptocurrency listings on Coinbase and allegedly used it for his financial benefit. In the official government report, Cobie’s investigation into an Ethereum address that buys tokens right before they were listed on Coinbase was an important part of a preliminary investigation to gather evidence.
In that sense, Coinbase employees claim that the crypto-influencer was responsible for the investigation as a way to suspiciously accelerate its commercial partnership with FTX. The exchange sponsors Cobie’s podcast “Just Up”.
Cobie called the allegations lies as he claims all information about alleged insider trading was disclosed “privately”. Cobie is known in the crypto space for being an early adopter of Bitcoin and making money throughout the year. His agreement with FTX is therefore in doubt.
However, Cobie clarified that their deal with the crypto exchange is “locked”. Therefore, there is no way to break it without incurring legal consequences.
In addition, part of the money is used to pay the team behind the podcast, promotions and giveaways for early listeners. Cobie so:
For what it’s worth, I don’t even think it’s a good argument that when you’re rich you should do everything for free and pay everyone out of pocket. It’s a business that costs money, especially if we wanted to do it more often/professionally lol.
Is There Corruption In Crypto Exchange Coinbase?
The crypto influencer claims that his relationship with FTX does not prevent him from criticizing the company. The advisor for Ethereum’s second layer solution and lead at Coinbase Wallet Peter Jihoon Kim was very critical of Cobie.
Kim admitted that the listing process at Coinbase has flaws, but he denied that there is “some widespread systematic malice and corruption” at the exchange. Coinbase employees claim that the company has defended crypto and classified Cobie’s claims as “quite disingenuous”.
Cobie black:
I *repeatedly* found potential insider trading and disclosed it privately to the CEO before publicly disclosing another instance on twitter over a month later. Guess what? It turned out to be real insider trading! So yes, there was systemic evil and abuse on the part of Coinbase. It was over a year of insider trading from the guy who wrote the posts on how to make listings safer!! Sure, it’s not Coinbase “sanctioned” evil. I’m not saying CB is evil or encouraging it.
