2015-01-30 CA - Coinbase Inc Under Investigation For Misleading Information

[jdebunt]

http://www.cryptoarticles.com/crypto-news/coinbase-inc-under-investigation-regarding-misleading-information-about-their-bitcoin-exchange

It looks like Coinbase might be facing some serious trouble after they announced their US regulated Bitcoin exchange, which eventually turned out to be not so regulated at all in several states. Tripp Levy PLLC, a leading national securities and shareholder rights law firm, has set their sights on Coinbase, Inc. for their (alleged) false and misleading information to potential and current Coinbase Bitcoin Exchange users.

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[SOAD]

According to several sources, the Coinbase announcement on January 25th may have artificially inflated the Bitcoin price, as the value passed the US$300 threshold less than 24 hours after the announcement.

I honestly don't get the bitcoin price. Why would an announcement such as this spike the price? If true the price just seems to be dictated by the fickle mentality of idiots. No wonder fud is so effective.