Crypto Exchange Coinbase: We Don’t Engage in Proprietary TradingCryptocurrency exchange operator Coinbase has denied that it engages in proprietary trading and that these activities account for a large percentage of the firm’s overall trading volume.
CCN reported yesterday that an investigation into cryptocurrency exchange policies and operations, published this week by the New York attorney general’s office (OAG), found that proprietary trading, through which an exchange operates a trading desk that trades on its own platform against its customers, is common within the crypto industry.
Per the report:
“The OAG found that significant variation exists in the amount of trading activity attributable to those platform operators. Circle reported that it accounted for less than one percent of the executed volume on its platform Poloniex during the most recent time period reviewed. BitFlyer USA indicated that its own activity accounted for approximately ten percent of the executed volume on its platform. Another, Coinbase, disclosed that almost twenty percent of executed volume on its platform was attributable to its own trading.”
https://www.ccn.com/crypto-exchange-coinbase-we-dont-engage-in-proprietary-trading/
