Did someone find out about the SEC's lawsuit against Coinbase sooner than others? Put options trades show someone did for sure
This could be a classic example of what appears to be insider trading, which is illegal and frowned upon in the financial world. Insider trading occurs when trades are executed based on material, nonpublic information. In this case, the investor's put options indicated they were betting heavily on Coinbase's stock price falling sharply in a very short period.
Insider trading is considered unfair because it undermines investor confidence in the fairness and integrity of the securities markets. In this instance, the timing and nature of the put options, along with the SEC's lawsuit announcement, raises suspicions that the investor might have had foreknowledge of the lawsuit.Notably, unusual trading activity against COIN was detected by financial data tracking platform Unusual Whales, which alerted its users to the suspiciously bearish bets.
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