Someone once again appears to trade on insider knowledge of Coinbase listings

On April 11, Coinbase announced 50 new cryptocurrencies they were considering listing on their exchange. These announcements tend to increase the price of the tokens under consideration, as traders take bets that the coins will be listed, and that their being listed on a major exchange and made more easily accessible will result in a price increase down the road.

The day after the announcement, crypto influencer "Cobie" wrote on Twitter, "Found an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl". The wallet had spent around $400,000 on multiple currencies listed in the announcement, which certainly appears as though they knew about the contents of the announcement before it was published.

This is not the first time allegations of insider trading have been made based on Coinbase announcements. In February, a trader made a profit of over $700,000 by trading on what appeared to be advance knowledge of two upcoming Coinbase announcements.