Coinbase's Bitcoin Cash Market Is Back Online

Roger Ver chief executive officer

However, on GDAX (Coinbase's trading platform), it simply exploded, which has lead Coinbase to consider the possibility of insider trading.

GDAX, the digital asset exchange run by Coinbase, has resumed trading of bitcoin cash hours after its initial - and tumultuous - effort to launch a market for the breakaway cryptocurrency. Apparently, there is some case of insider trading ahead of its announcement - and that caused significant volatility in the price where the order book showed that bitcoin cash hit a high of $9,500. However, traders of the cryptocurrency could have a serious problem on their hands, as the sudden increase in price may have been manufactured.

Coinbase went haywire Tuesday night when the popular cryptocurrency platform began allowing users to trade bitcoin cash, a fork of bitcoin that's supposed to be more scalable.

Moreover, "employees and contractors (of Coinbase) were explicitly prohibited from trading Bitcoin Cash and disclosing launch their plans over a month ago", stated Brian.

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Bitcoin cash increases by the day or even hour lately, while its predecessor bitcoin continues to fall.

"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".

Bitcoin Cash first surfaced online back in August when a group of developers "forked" the Bitcoin blockchain. In the few minutes that trading was accessible, the price shot as high as $9,500, a level that represented a large premium over other exchanges.

Coinbase is suspending trading of Bitcoin Cash due to an insider trading probe.

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Bitcoin cash works faster than traditional bitcoin in terms of transaction speeds, and costs are lower.

The move to halt trading also came days after Coinbase (which operates GDAX) paused buys and sells for ether and litecoin amid a period of heavy activity on the site.

Four hours after its introduction to the exchange on Tuesday, Coinbase suspended trading of the digital currency.

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