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Coinbase employee accused Cobie of spreading insider trading claim because of FTX Coinbase employee accused Cobie of spreading insider trading claim because of FTX

Coinbase employee accused Cobie of spreading insider trading claim because of FTX

According to the allegation, FTX CEO Sam Bankman-Fried found evidence of insider trading at Coinbase and used Cobie's influence to spread the news.

Coinbase employee accused Cobie of spreading insider trading claim because of FTX

Cover art/illustration via CryptoSlate

Coinbase employee Pete Kim has accused prominent crypto influencer Cobie of spreading insider trading claims againstย  Coinbase because of his partnership deal with FTX.

Cobie said that FTX’s sponsorship of UpOnlyTVย  never influenced his decision to call out the crime. He added that he had no personal interest in spreading any FUD against Coinbase.

On Sept. 8, a casual conversation between Grant Wright and Kim led to updates about the insider trading charge and Cobie’s role.

Kim implied that Cobie was paid by FTX to spread the news about the incident:

According to the allegation, FTX’s Sam Bankman-Fried learned of insider trading at Coinbase and used Cobie’s influence to spread the news.

When questioned about the FTX sponsorship deal with UpOnlyTV, Cobie said that the deal was to pay its employees and keep the business running and he had never received a penny for his personal interest.

Crypto community reacts

Users on Twitter have criticized Kim’s approach to inciting FUD against Cobie and FTX.

Ari Paul added that Kim’s tactics indicate that Coinbase has something to hide.

Cobie and the insider trading case

According to the U.S. Department of Justice, Cobie made the first public announcement of an insider trading case at Coinbase on April 12, 2022.

Coinbase followed up with an investigation that implicated its former Product Manager Ishan Wahi. The accused was arrested and currently facing trial with the DOJ.

According to Cobie, the incidence of insider trading at Coinbase had been commonplace eighteen months before his public exposure.

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