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Coinbase counters WSJ claim its Risk Solutions group engaged in $100M proprietary trade

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cointelegraph.com

The Wall Street Journal and Coinbase are having differences over definitions. The newspaper published an alleged account of the digital asset exchange’s trading activities earlier this year that it claims amount to proprietary trading.

Coinbase responded in a blogpost that it had done no such thing.Relying on information supplied by “people at the company,” the WSJ wrote on Sept.

22 that Coinbase made a $100-million transaction that was viewed inside the company as a test trade by the company’s Risk Solutions group, which had been formed for the purpose of proprietary trading.

Proprietary trading is the practice by banks and financial institutions of trading their own money for their own gain, rather than doing so to earn a commission from a client.

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