Cobie Becomes the Scapegoat for Investigations: Addresses Coinbase CEO

• Cobie tweeted addressing Brian Armstrong, stating that he kept all that “went down” private.
• He expressed his disappointment at being accused as the only reason for the insider trading investigation.
• The tweet was a reminder from Cobie that he had relevant details to justify himself.

Cobie, a prominent pseudonymous crypto-figure, tweeted that he had kept all the details of the insider trading investigation at Coinbase and how everything “went down” private , with a special reference to Brian Armstrong, the co-founder and CEO of Coinbase. Cobie was disappointed at being accused as the sole reason for the investigation.

Following the misunderstanding, Cobie took to Twitter to justify himself, 

Interestingly, it is to be noted that social media celebrated Cobie’s influence on the FBI for bringing forward an insider investigation. On April 12, Cobie posted a tweet about the suspicious crypto exchanges, described as a “huge mess”, that have been happening over the last year:

Found an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl.

Consequently, the next day, Coinbase’s chief security officer commented on the post, informing him that the company was investigating. As a result, US Attorney Damian Williams initiated the first insider trading case, bringing forward an indictment against a Coinbase employee who allegedly made transactions with his brother and friend.

But Cobie was disappointed by the fact that the person who was arrested was not the one whom he was referring to.

He commented,

I don’t feel great about that because the person I was criticizing is not the person that got arrested, the person that got arrested seems like collateral damage…I was criticizing the institution that the person that got arrested worked for.

Afterward, Cobie was criticized by the company with a tweet stating that “some market participants may be taking advantage of information from our listings process.” This made him even more disappointed and finally led to the recent post in which he addressed Armstrong to underscore that he had stored all the essential details of the issue.