Crypto influencer Cobie has been the subject of heated discussion across social media platforms due to its connection to two major exchanges. As Cobie said via his Twitter account, some Coinbase employees are accessing him to harm the company.
Two months ago, the US Department of Justice confirmed the arrest of Ishaan Wahi, a former product manager at Coinbase. In an alleged collaboration with two other suspects, authorities in the country alleged that Wahi used his position on the exchange to conduct an “insider trading scheme”.
According to the Department of Justice, Wahi had access to privileged information regarding future listings of cryptocurrencies on Coinbase and allegedly used it for his own financial benefit. In the official report from the authorities, Cobie’s investigation into the purchase of Ethereum tokens prior to their listing on Coinbase was an important part of the pre-selection investigation to gather evidence.
In this sense, Coinbase employees claim that the crypto influencer was responsible for the investigation as a means of suspiciously advancing its business partnership with FTX. The exchange sponsors a Cuban podcast “Up Only”.
Kobe called the accusations a lie because he claims that any information about the alleged insider trading was disclosed “in private.” Cobie is known in the crypto space for being an early adopter of Bitcoin and is profitable throughout the year. Thus, his deal with FTX came into question.
However, Cobie explained that their dealings with the crypto exchange are “closed.” Therefore, there is no way to break it without facing legal repercussions.
In addition, part of the money is used to pay the team responsible for the podcast, promotions and gifts for first listeners. Cuban He said:
For what it’s worth, I don’t think it’s a good argument that when you’re rich you should do everything for free and pay everyone out of your own pocket. It’s business costs, especially if we want to do it frequently/professional lol.
Is there corruption inside cryptocurrency exchange Coinbase?
The crypto influencer claims that his relationship with FTX does not prevent him from criticizing the company. Ethereum layer 2 resolution advisor and president at Coinbase Wallet Peter Jihoon Kim has been highly critical of Cobie.
Kim acknowledged that the Coinbase listing process had flaws, but dismissed the presence of “some systemic corruption” on the exchange. A Coinbase employee claims that the company has defended cryptocurrency and has labeled Cobie’s allegations “completely disingenuous.”
You found a frequent potential insider trade and disclosed it privately to your CEO before revealing another case publicly on Twitter over a month later. guess what? It turned out to be real insider trading! Well, there has been malice and systematic abuse from within Coinbase. There has been over a year of insider trading from a dude who has written posts on how to make rolls safer!! Certainly, this is not a “punished” malice on Coinbase. I’m not saying CB is evil or encouraging it.