Topic: Coinbase fined USD 6.5 million for inflating trading and liquidity (Read 297 times)
Many of the current exchanges are very interesting to attract traders but I can't say if the platform is very attractive but the coinbase investment is making it very interesting to attract traders but I don't know if they will cheat anyone from the coinbase but I can't say that i will not be able to invest in the future but I am making it very interesting to invest in the coinbase so I can say that it would be good to invest
April 10, 2021, 03:00:57 PM
Coinbase most popular exchange and become your way when buying coin because when have new tweet from Coinbase twitter never wait again for buying because many coin listed on Coinbase can pump suddenly. But have effect when any coin delist from coinbase make price down. Now coinbase have support with many coins listed on their exchange market.
March 25, 2021, 01:23:26 PM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
LOL
By far best exchange Kraken. Coinbase is in exchange business for profit, Kraken is because they believe crypto will change the world. Coinbase faking volume is another proof who they are.
March 24, 2021, 02:00:37 PM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
I do not understand why USA is focusing on the american crypto companies so much and go hard on them when other nations companies do not get half the things american ones get. For example, how many people in USA uses Binance? I think there were a lot last time, and I think it is obvious that we are not talking about USA trying to ban every single non-USA company neither.It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
I believe BNB is used in USA a lot as well right? And if we take all of this into consideration, that means USA should be banning or at least give a huge fine to Binance as well. Binance is just example, you can replace that with any company in the crypto world (even non-exchange ones) that are working and have american customers. This is why I think it is quite obvious that what USA is doing with these is actually hurting the companies in USA and helping the ones overseas.
March 23, 2021, 11:12:30 PM
In fact, such bots are used in every exchange. They attract traders by creating fake volume. 6.5 million fines isn't enough for them, more fines should be levied against them, they are always pausing user accounts for no reason.
$6.5 million is not a big amount for a corporation such as Coinbase, who are going for the IPO with valuation of $77 billion. But this is more like a warning from the SEC. If they continue with their unfair practices, then they can expect even larger penalties. Anyway, I don't expect Coinbase to do the same mistakes now on. With such a huge userbase, they don't need to indulge in such practices.
March 23, 2021, 10:37:06 PM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
In fact, such bots are used in every exchange. They attract traders by creating fake volume. 6.5 million fines isn't enough for them, more fines should be levied against them, they are always pausing user accounts for no reason.
March 23, 2021, 06:31:42 PM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
You are right! These kind of news or situations isnt something surprising anymore.People had already get used to it where these platforms or exchangers would really do such things just It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
for them to bloat out their trading volume and liquidity just for them to look that they are really doing well into this market.When trying to impress out the public then it would
really be starting on showing off some good numbers which do indicates that there are lots of users been using their platform where it do really create some positive vibes or impressions.
This isnt the first time incident about manipulation or deceiving actions made by platforms just to make it look good.
March 23, 2021, 06:25:12 PM
Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
If the situation is true and if they really mess with the real data then they needs to pay for the fraud as people usually look for liquidity and if they were faking those data then they need to pay for it.It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
It is not new that exchanges are faking their date to attract the users but for an exchange like Coinbase who is registered in the US they should know better that they will get into trouble. 
March 23, 2021, 03:40:37 PM
Actually it’s very strange that CFTC fined Coinbase only now after three years had passed. It’s hardly believed that they haven’t seen before that Coinbase creating an artificial trading liquidity of LTC (and probably a lot of other coins)! They waited till now when Coinbase became one of the most well-known crypto exchange platforms and fined it with ridiculously small fine. Something is unclear here. That’s really might be just a first small warning to exchanges to stop faking.
March 23, 2021, 03:36:02 AM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
This is not a new technique followed by most exchanges and same is the case with Coinbase.Yes they are using tricky algorithm to increase the trading volumes of coins to attract more customers.Coinbase has filed for an IPO this year and they are being verified by the authorities for such large issue.It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
With increase in prices the trade volume rose on coinbase with huge numbers.The most bitcoin ever traded in a month on Coinbase was December of 2017, when the cryptocurrency’s reached as high as $19,891 and 1,275,295.522 BTC traded hands on the exchange.So you can clearly say that yes they are inflating the liquidity of most traded coins on their platforms.Its now more common technique to attract customers in every field.
March 23, 2021, 03:01:49 AM
Coinbase messed up big this time. It's understandable they are wash trading during 2015-2018 since almost every exchange does this and crypto wasn't particularly as famous as 2021 but they should have anonymously did it instead of disclosing one account that might link to the other. The authority probably increased their manpower and Coinbase only but caught this time.
March 22, 2021, 01:57:37 AM
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
This kind of behavior is not well tolerated by crowds. Why Coinbase does something like that. They are one of the reputable and legit crypto-exchanges. This will only hurt themselves and the trust in the exchange. It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
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March 22, 2021, 01:22:01 AM
I am not shock by the news of coinbase using numerous account to create deceptions of the liquidity pool cause alot of exchange site are guilt of this action especially Binance and their new swap exchange concept on their BSC platform which is the reason why I don't trust some Defi project price.
March 21, 2021, 12:32:28 PM
Most of these exchanges, whether big or small are guilty of this kind of scheme. However, some wash trading is owed to the developers of the coin themselves. Because they want to make it seem their coin has active trading and attract potential traders. You can spot those coins if you have been long enough seeing a lot of new alts being traded, pumped and dumped, and gone. Coinbase fine is just loose change for them, however, this will serve as a warning for some exchanges that may practice this kind of fraudulent trading activity.
I saw this from the other small exchange where they really do this to pump up their standings on CMC or even on other site so that they can fool users and worse to scam them but in coinbase its surprising to see them doing that since they are successful already. Maybe they want to hype more their platform since they have so many competitor as of now. So from this incident maybe this really serve as a warning to other that their are legal entities that watching them if they do any illegal acts here.If all websites with fake volume was seen in CMC and there were warning signs of "real volume found to be half of what it is, be careful at this exchange" that would make exchanges stop suddenly, but they still do it because they can get away with it and even gain something from it on top of that.
March 21, 2021, 10:58:00 AM
Thank you CFTC for telling us something we already knew 
The news is that CFTC has found out that this happens
You know, better later than never.
The topic is interesting because it opens the road of fining them until they get the numbers much closer to the reality. And it gives a signal for the other similar agencies from the other countries where the exchanges are registered.
As said, 6.5M is nothing. But more such fines can follow. It's an interesting move imho.
March 21, 2021, 10:14:15 AM
I believe that all exchanges have manipulation by the owner of the trading property with tricks to take money from users. It seems that transaction costs do not satisfy them. The CEO of Bitmex went to jail, Coinbase was fined and it could be Binance, Houbi or Okex ...
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Most of these exchanges, whether big or small are guilty of this kind of scheme. However, some wash trading is owed to the developers of the coin themselves. Because they want to make it seem their coin has active trading and attract potential traders. You can spot those coins if you have been long enough seeing a lot of new alts being traded, pumped and dumped, and gone. Coinbase fine is just loose change for them, however, this will serve as a warning for some exchanges that may practice this kind of fraudulent trading activity.
Perhaps the free-trade BOT excites investors and makes them more active in trading in this market.
March 21, 2021, 05:46:13 AM
@paxmao the link for the reuters isn't attached, the link's broken.
What's next if SEC would also chase other exchanges that did the same?
According to Reuters and other outlets, Coinbase has been fined for using multiple trading accounts and algorithms that created the illusion of a more liquid and active market for bitcoin and litecoin on their GDAX professional trading platform.
It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
This case isn't new for the daily traders, we know that exchanges make their own trades to provide liquidity and their own market. They're going on IPO and this have probably seen due to the attention that they've taken.It comes as no surprise to most people on this forum, as most exchanges use market making bots or these are active on behalf of liquidity pools. It is just the fact that multiple accounts were used undisclosed the main argument for this fine.
What's next if SEC would also chase other exchanges that did the same?
March 21, 2021, 05:10:39 AM
I believe that all exchanges have manipulation by the owner of the trading property with tricks to take money from users. It seems that transaction costs do not satisfy them. The CEO of Bitmex went to jail, Coinbase was fined and it could be Binance, Houbi or Okex ...
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Most of these exchanges, whether big or small are guilty of this kind of scheme. However, some wash trading is owed to the developers of the coin themselves. Because they want to make it seem their coin has active trading and attract potential traders. You can spot those coins if you have been long enough seeing a lot of new alts being traded, pumped and dumped, and gone. Coinbase fine is just loose change for them, however, this will serve as a warning for some exchanges that may practice this kind of fraudulent trading activity.
I saw this from the other small exchange where they really do this to pump up their standings on CMC or even on other site so that they can fool users and worse to scam them but in coinbase its surprising to see them doing that since they are successful already. Maybe they want to hype more their platform since they have so many competitor as of now. So from this incident maybe this really serve as a warning to other that their are legal entities that watching them if they do any illegal acts here.
March 21, 2021, 04:15:10 AM
I believe that all exchanges have manipulation by the owner of the trading property with tricks to take money from users. It seems that transaction costs do not satisfy them. The CEO of Bitmex went to jail, Coinbase was fined and it could be Binance, Houbi or Okex ...
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Most of these exchanges, whether big or small are guilty of this kind of scheme. However, some wash trading is owed to the developers of the coin themselves. Because they want to make it seem their coin has active trading and attract potential traders. You can spot those coins if you have been long enough seeing a lot of new alts being traded, pumped and dumped, and gone. Coinbase fine is just loose change for them, however, this will serve as a warning for some exchanges that may practice this kind of fraudulent trading activity.
March 21, 2021, 12:39:54 AM
I believe that all exchanges have manipulation by the owner of the trading property with tricks to take money from users. It seems that transaction costs do not satisfy them. The CEO of Bitmex went to jail, Coinbase was fined and it could be Binance, Houbi or Okex ...
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
Even decentralized platforms like Uniswap still experience exchange rate manipulation using pre-programmed BOTs. My advice for traders is to trade less and choose good entry for the best return.
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