CFTC trocou Coinbase por $6,5 milhões

CFTC fined Coinbase $6.5 million for commercial trading. The Commodity Futures Trading Commission has found it necessary to hold Coinbase liable for engaging in illegal financial transactions. By making the exchange the main character of today's headlines shortly before its IPO.

The reason for the commotion was unauthorized and bogus transactions made on the GDAX platform (now known as Coinbase Pro) over 3 years - from winter 2015 to autumn 2018.

Consequently, this affected the accuracy of Coinbase's own reports to the CFTC, which is why the latter brought the charges. At that time, Coinbase used the Hedger and Replicator software to generate orders. As a result, some of them could sometimes coincide with each other. By matching orders in specific trading pairs, the programs traded with each other between Coinbase-owned accounts.

One of Coinbase's motives, according to the regulator, was to create a high liquidity effect, which in turn should have attracted the attention of an increasing number of investors. In addition, such transactions artificially increased the trading volumes on the crypto exchange, making it more significant in the market.

The CFTC also stated that a Coinbase employee made equal transactions in LTC / BTC pair on the GDAX platform for 6 weeks. At the same time, there was no commission, and trading volumes increased. This “scheme” was implemented in the fall of 2016 and aimed to increase Litecoin's visual liquidity and trading interest in the coin

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