This pump was not really due only to coinbase listening.
OMG was an ERC-20 and they have recently moved to their own network , launching their main net in June 1st. This would already be a pump by itself, and it was combined with coinbase listening...
I am not a fan of this project, as I believe it is basically a scam, as their goals are unachievable by them imo and they hype themselves a lot. They propose a very efficient scaling solution for ethereum network. They also distorted the truth a lot of times, to make it looks like they were google partners while they were not (Google were adversting that OmiseGo uses google, not that google is interest in omisego).
Topic: Omisego listing on Coinbase has raised the possibility of insider trading (Read 167 times)
June 04, 2020, 09:01:13 AM
June 04, 2020, 08:00:13 AM
Insider trading in cryptocurrency isn't limited to cryptocurrency stocks. The futures market has also been a big contributor to blockchain value spikes. In fact, one of the biggest purchases in the over-the-counter (OTC) derivatives market is bitcoin futures.
The Pimco Total Return Fund (TMTCF) has been one of the largest managers in the market. The company is already trading bitcoin futures. The fund has traded around 3,000 BTC at the beginning of the year. In July, the futures contract began trading at $40,000 per contract. However, prices have fallen to just over $30,000.
The Pimco Total Return Fund (TMTCF) has been one of the largest managers in the market. The company is already trading bitcoin futures. The fund has traded around 3,000 BTC at the beginning of the year. In July, the futures contract began trading at $40,000 per contract. However, prices have fallen to just over $30,000.
May 23, 2020, 05:26:50 AM
Probably, we can only speculate at this point because it's really hard to get facts here in crypto unlike stock markets wherein insider trading can really be detected by SEC themselves. But personally, I do believed that there's some kind of colluding between Coinbase and OmiseGo here and probably causes the big swell in prices. Or someone really knows that something big will happen, pump the price and get out before anyone has any idea. Fraudulent practice but it is really hard to proved, and probably Coinbase or someone else will get away with it again.
May 23, 2020, 05:25:22 AM
This is the same like when bitcoin cash was getting listed on coinbase but again i believe coinbase will publish a report if there was no insider trading on its platform.
The same report that already published to counter the accusation for insider trading of bitcoin cash will be used again for omisego.
The same report that already published to counter the accusation for insider trading of bitcoin cash will be used again for omisego.
May 23, 2020, 05:05:03 AM
Omisego an Alt coin which was listed on Coinbase immediately experienced a huge pump in it’s prices, and within 15 minutes it took a steep fall too which has led many people to accuse coinbase of indulging in insider trading. It’s also worth mentioning that this is not the first time that Coinbase has been accused of insider trading, but in the past those allegations were never proved. However what do you’ll think are they really guilty of insider trading, or this pump and dump move was just a coincidence?.
Controversy has returned to cryptocurrency exchange Coinbase after an altcoin it listed surged 200% in 15 minutes — only to crash immediately afterward.
Perhaps most notorious was Coinbase’s support of Bitcoin Cash (BCH), which began climbing in price even before any public announcement of the exchange supporting it. This in turn led to accusations of insider trading, and even an investigation by Coinbase itself, which ultimately found no evidence of foul play.
Source:
https://cointelegraph.com/news/coinbase-listings-return-200-omisego-pump-and-dump-raises-eyebrows
Quote
Controversy has returned to cryptocurrency exchange Coinbase after an altcoin it listed surged 200% in 15 minutes — only to crash immediately afterward.
Quote
Perhaps most notorious was Coinbase’s support of Bitcoin Cash (BCH), which began climbing in price even before any public announcement of the exchange supporting it. This in turn led to accusations of insider trading, and even an investigation by Coinbase itself, which ultimately found no evidence of foul play.
Source:
https://cointelegraph.com/news/coinbase-listings-return-200-omisego-pump-and-dump-raises-eyebrows
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