Coinbase employee accused Cobie of spreading insider trading claim because of FTX

coinbase employee Pete Kim Condemns prominent cryptocurrency influencers Coby Widespread insider trading allegations against Coinbase because of its partnership agreement with FTX.

Cobie said FTX’s sponsorship of UpOnlyTV never influenced his decision to press charges. He added that he has no personal interest in spreading his FUD against Coinbase.

Coinbase employees have hinted that FTX sparked an insider trading investigation at Coinbase because of its sponsorship. Shinshin

Full details of how it all went “down” @Brian_Armstrong And ~ industry ~.

A new substack soon? https://t.co/7SEp4IYqki

Cobie (@cobie) September 8, 2022

September 8th, Grant Wright And Kim brought an update on insider trading charges and Coby’s role.

Kim hinted that Coby was paid by FTX to spread news about the incident.

…that CT believes. who will pay him?

Petekim. {eth,lens} (@petejkim) September 8, 2022

FTX’s Sam Bankman-Fried allegedly learned of insider trading on Coinbase and used Cobie’s clout to spread the news.

So did Sam find evidence of insider trading at CB before CB?

And I used Coby to spread the news.
But has the rumor been there for years?

Grant Wright (@grntwrght) September 8, 2022

When asked about the FTX sponsorship deal with UpOnlyTV, Cobie said the deal was to pay his employees and keep the business going and he didn’t take a cent for personal gain. I was.

The Crypto Community Reacts

Twitter users criticized Kim’s approach to instigating FUD against Cobie and FTX.

Did FTX pay him to reveal you were doing something illegal?
The important part is that you were doing something illegal, but I’m glad you’re showing Coinbase what it really is. Very ethical.

Molandrox (@Molandrox) September 9, 2022

Ali Paul He added that Kim’s tactics show that Coinbase is hiding something.

See how bad this tweet looks? A third party, before Coinbase, he points out illegal corruption within Coinbase, and your response is, “Who pays him?” that tactic is not used on good actors who have nothing to hide. Cheap. Maybe Coinbase should pay him?

Ali Paul (@AriDavidPaul) September 8, 2022

Coby and the insider trading case

Cobie first went public with his insider trading case on Coinbase on April 12, 2022, according to the US Department of Justice.

Coinbase continued an investigation involving former product manager Ishan Wahi. The accused was arrested and is currently on trial at the Department of Justice.

According to Coby, insider trading occurrences on Coinbase were common 18 months before he was publicly exposed.