Roman Bodnarchuk | iStock Editorial | Getty Images. Coinbase said that employees at the venue are "prohibited from trading in bitcoin cash for several weeks."
Cryptocurrency exchange Coinbase is investigating a increase in bitcoin offshoot bitcoin cash that happened hours before it said it might launch support for the new digital currency. the worth of the digital coin was seen rising sharply before Coinbase announced its support for the buying and selling of bitcoin cash on its platform. It subsequently pulled the feature after prices were seen to fluctuate wildly compared to other exchanges, and said it might likely return on Wednesday. Coinbase said the bitcoin cash function was halted thanks to "significant volatility." Coinbase said that employees at the venue are "prohibited from trading in bitcoin cash for several weeks." Tweet The firm's CEO Brian Armstrong then published a blogpost on the matter, and said Coinbase's trading policy prohibits staff from "trading on 'material non-public information,' like when a replacement asset are going to be added to our platform." He said the corporate would conduct a search into whether employees violated its trading policy.
"Given the worth increase within the hours leading up the announcement, we'll be conducting an investigation into this matter," Armstrong said. "If we discover evidence of any employee or contractor violating our policies — directly or indirectly — i will be able to not hesitate to terminate the worker immediately and take appropriate action ." Bitcoin cash was the results of a so-called "hard fork" — a split within the original network underpinning bitcoin — that occurred in August. Proponents of the virtual token believe it to be a more efficient means of peer-to-peer payments than bitcoin. The digital asset was trading at $3,431.21 at about 2:40 a.m. ET, consistent with Coinmarketcap data.
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