NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Expert Predicts ‘Golden Entry Window’ For Next Bull Market In October 2026
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Expert Predicts ‘Golden Entry Window’ For Next Bull Market In October 2026

How the CFTC fine on Coinbase could affect future crypto company listing

Reynaldo Marquez
Reynaldo Marquez
Last Updated: March 20, 2021 7:52 pm
2 mins read
Coinbase Terra Luna Classic

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Commodity Futures Trading Commission (CFTC) has imposed a $6.5 million fine on Coinbase. The regulator is accusing the Exchange of false or misleading reporting and wash trading, per an official statement.

Between 2015 and 2018, according to the CFTC order, a former Coinbase employee engaged in the referenced misconduct on the GDAX platform. The exchange has received an order to cease “further violations”. According to the official release:

Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets, including Bitcoin, on the GDAX electronic trading platform it operated.

The exchange allegedly operated two “automated trading programs” called Hedger and Replicator. These bots generated trade orders that “matched with one another”. The exchange did not report to the CFTC that it operated multiple accounts, according to the order.

Coinbase was trading on GDAX, but failed to disclose that Coinbase was operating more than one trading program and trading through multiple accounts. In addition, the order finds that while Hedger and Replicator had independent purposes, in practice the programs matched orders with one another in certain trading pairs, resulting in trades between accounts owned by Coinbase.

The information generated by the trade between the bots was included on Coinbase’s website. Then, entities such as the Chicago Mercantile Exchange (CME), NYSE Bitcoin Index, CoinMarketCap OpCo, took this data and replicate it on their own platforms. The order states:

transactional information of this type is used by market participants for price discovery related to trading or owning digital assets, and potentially resulted in a perceived volume and level of liquidity of digital assets, including Bitcoin, that was false, misleading, or inaccurate.

Fake liquidity in Bitcoin/Litecoin trading pair

Further evidence found by the CFTC indicates that between September and November 2016, the aforementioned former Coinbase employee manipulated Bitcoin/Litecoin trading pair. Thereby creating “false liquidity” reports. The employee’s name has not been disclosed by the regulator.

Acting Director of Enforcement for the CFTC, Vincent McGonagle, stated:

Reporting false, misleading, or inaccurate transaction information undermines the integrity of digital asset pricing. This enforcement action sends the message that the Commission will act to safeguard the integrity and transparency of such information.

A separate report by journalist Wu Blockchain states that there are several former Coinbase employees, executives, and other personnel cooperating with the CFTC investigation. Coinbase is in preparation to become a public company.

The ongoing prosecution by the CFTC may affect the entire industry, Wu Blockchain said:

Coinbase will postpone its listing until April.  Earlier, CFTC announced on Friday that it would impose a fine of $6.5 million. It may affect subsequent listings of cryptocurrency companies in the United States and Greater China.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Fidelity Sees Key Crypto Catalysts Emerging For Q2 2026

Fidelity Sees Key Crypto Catalysts Emerging For Q2 2026

Fidelity’s latest quarterly crypto livestream framed the second quarter of 2026 as a transition period for crypto assets, with the...

Jake Simmons 4 hours ago
Bitcoin

Bitcoin Shorts Squeezed Out $44M As Spot Demand Stays Weak

Over $44 million in short positions were wiped out on Binance in a single hour Monday — the largest one-hour...

Christian Encila 6 hours ago
Cardano Bottom Signal? Shorts Hit Highest Level Since June 2023

Cardano Bottom Signal? Shorts Hit Highest Level Since June 2023

Cardano may be flashing the kind of contrarian setup that traders tend to watch closely near exhausted selloffs. According to...

Jake Simmons 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin PMI Cycle Is The Only Signal That Matters, Analyst Explains Why

Sandra White 2 hours ago
shib

Dogecoin, Shib et Pepe menacés de chute : l’utilité infrastructurelle comme issue ?

guillaumev 3 hours ago

Legendary Dogecoin Breakout That Could Lead To 2,500% Rally To $2

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • CreditBlockchain

    CreditBlockchain cloud mining helps users earn up to 0.078...

    2 months ago
  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    2 months ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    2 months ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    2 months ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    2 months ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.