Coinbase cleared for alleged Bitcoin Cash insider trading

It has been determined that there was no insider trading of Bitcoin Cash by Coinbase, according to anonymous sources.

The sources told Fortune that an independent internal investigation by two national law firms has now been completed and no discinplinary action will be taken.

A Coinbase spokesperson said: “We would not hesitate to terminate an employee or contractor and/or take appropriate legal action if evidence showed our policies were violated. We can report that the voluntary, independent internal investigation has come to a close, and we have determined to take no disciplinary action.”

The allegations occurred when Coinbase reversed its decision to not support Bitcoin Cash, listing it on the platform almost a month before it was scheduled once the price rose to more than $3,000.

At the time, senior manager Brian Armstrong said: “I take the confidentiality of material non-public information very seriously as CEO. Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter.

“If we find evidence of any employee or contractor violating our policies — directly or indirectly — I will not hesitate to terminate the employee immediately and take appropriate legal action.”