Coinbase finds no wrongdoing in Bitcoin Cash insider trading probe

July 27, 2018
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A spokesperson told Fortune that the months-long investigation conducted by two national law firms concluded last week and no evidence of wrongdoing was found. “We would not hesitate to terminate an employee or contractor and/or take appropriate legal action if evidence showed our policies were violated,” the spokesperson told Fortune. “We can report that the voluntary, independent internal investigation has come to a close, and we have determined to take no disciplinary action.”

In a blog post published shortly after the incident, Coinbase CEO Brian Armstrong said, “All Coinbase employees and contractors were explicitly prohibited from trading Bitcoin Cash and from disclosing our launch plans over a month ago.” He added that if any employee was found to have violated the company’s policies, directly or indirectly, he would “not hesitate to terminate the employee immediately and take appropriate legal action.”

Though Coinbase has determined there’s no legal or disciplinary action to take on its part, its troubles aren’t over yet. A class action lawsuit is still being pursued by Coinbase customers, and the lawyer representing the plaintiffs told Fortune that the case is currently in procedural stages.



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