Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
-multisnips-
Coinbase Settles With CFTC for $6.5M Over Old Trading Practices
https://coindesk.com/coinbase-settles-with-cftc-for-6-5m-over-old-trading-practices
https://coindesk.com/coinbase-settles-with-cftc-for-6-5m-over-old-trading-practices
That is a good and recent link, even though the picture contains a 2019 date, the article is from yesterday (March 19).
Many of us have love hate relations with Coinbase and part of those love hate feelings seem to relate to some of the underlying shenanigans that were the basis of the CFTC investigation that resulted in the $6.5 million settlement.
Surely some of Coinbase's egregiousness was felt by members here.
If they have their way with the IPO, the company will be valued around 100 billion dollars. 6.5 mil is just peanuts, "cost of doing business". At the hypothetical valuation of 100 billion, it's ~0.0065% of the projected market cap. That's 6.5 dollars each 10k. Pretty cheap, I'd say.
There will be no justice until fines for companies are measured as a fraction of total value or yearly income.