Investigation report:Is There “Insider Trading” in BINANCE and COINBASE’s New Listing

Coinbase

Binance

Summary

  1. Binance and Coinbase’s new cryptocurrencies outperformed BTC in the pre-listing week, with BTC’s average increase in each time period almost equal to zero, suggesting that the news of the listing was indeed reflected in the price of the cryptocurrency in advance to some extent.
  2. Coinbase’s new cryptocurrencies rose more than Binance’s in the week before listing. Without considering outliers (>1X), Coinbase’s new cryptocurrencies rose 24.3% on average, while Binance’s rose 5.6%.
  3. In terms of outliers, Coinbase had 18 cryptocurrencies that rose more than 1x, accounting for about 15.3%, with a maximum increase of about 6.6x in 7 days; Binance had 15 cryptocurrencies, accounting for about 9%, with a maximum increase of about 10.3x in 7 days.

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WuBlockchain

WuBlockchain

Colin Wu, Chinese journalist, won 2013 China News Award