Updated: Jul 29, 2022
Ex-Coinbase product manager Wahi has been arrested by the US authorities for doing "insider trading" by leaking information before coins got listed in Coinbase.
Historically speaking, the Coinbase effect is real. Whenever they list a coin on their exchange, it pumps real hard to hundreds of percentages!
The product manager was found giving tips to his brother and friends about which coin is about to get listed so that they buy before the pump and hence involved in "insider trading" which is against Coinbase policies.
We are still looking forward to what Coinbase has to comment on this incident.