- This topic has 14 replies, 2 voices, and was last updated 6 months, 2 weeks ago by arcalus.
- Sunday, May 15th, 2022 at 10:55 #274021MeltdownmyselfParticipant
Cryptocurrency News – Coinbase Sued by Customers Who Lost Millions to Little-Known Crypto Project For Misinformation.
Read Here (Article Link):
What are your thoughts after reading this news article?Sunday, May 15th, 2022 at 10:57 #274022keeprollin420
Guess someone didnt DYORSunday, May 15th, 2022 at 11:04 #274026jakekick1999
Lol you can’t sue an exchange for your buying mistakesSunday, May 15th, 2022 at 11:07 #274023WicasaNapayshni
“Coinbase’s restriction prohibiting investors from liquidating their GYEN as it plummeted”Sunday, May 15th, 2022 at 11:15 #274024coinfeeds-bot
tldr; Coinbase is being sued for providing trading for GYEN, a stablecoin pegged to the Japanese yen. The exchange is accused of misleading customers into believing that the coin’s value was equal to the price of one yen. It also froze trading amid the volatility, leading to losses of “untold millions” in a matter of hours.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Sunday, May 15th, 2022 at 11:19 #274025Atsoc1993
So they didn’t restrict trading on the way up but they did on the way down. I think a freeze of trading looks bad no matter what, not sure what Coinbase was trying to save themselves from here.
BUT, it’s not their job to ensure gains or prevent losses, just facilitate trades. People threw money at the top without looking into the stability of it and that was their fault. Always looking for someone to blame for lost money when its literally gambling at this point.Sunday, May 15th, 2022 at 11:27 #274027LivingFondant1419
Coinbase made people falsely believe that gyen was pegged to 1 yen, then disabled trading as it fell. Fucking insane.Sunday, May 15th, 2022 at 11:37 #274032MrNobody8080
Excuse me coinbase, I’d like to talk to your manager please! I bought some random coin while doing 0 research and I now lost money! CryptoKarens…Sunday, May 15th, 2022 at 11:39 #274028PrinceZero1994
I’m pretty sure coinbase will just show their terms of service and easily cancel this lawsuit.Sunday, May 15th, 2022 at 11:47 #274033Spare_Imagination648
Looks like it’s a bad time for pegging.Sunday, May 15th, 2022 at 11:54 #274029peanutbutterwolve
Lol the people creating these lawsuits don’t have a shot in hell.Sunday, May 15th, 2022 at 12:03 #274030JupiterandMars1
“People sue Coinbase for being idiots”Sunday, May 15th, 2022 at 12:11 #274034002timmy
I feel like on Coinbase’s learn and earn, they should start with “You are responsible for your own research. We aren’t responsible for you losing money on investments”Sunday, May 15th, 2022 at 12:12 #274035arcalus
Good. Scambase can rot.Sunday, May 15th, 2022 at 12:22 #274031kirtash93
Reading Coinbase coins description is not DYOR people. You must investigate more.
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