Last week, in “Raise Your Hand If You Traded Bitcoin And Bitcoin Cash On Inside Information In The Last 48 Hours,” we documented the rather suspicious price action leading up to Coinbase's Tuesday evening announcement about bitcoin cash.

Specifically, Bitcoin took an abrupt dive right around the close on Wall Street. A little over three hours later, when the official announcement was made about bitcoin cash adoption by Coinbase, Bitcoin plunged:

Prior to that, bitcoin cash had been rising. It exploded higher when Coinbase made things official: 

And the ensuing chaos led to multiple halts: 

Update on #BCH trading on GDAXhttps://t.co/p3cEx0ryh7 pic.twitter.com/NyGUTVFL91

— GDAX (@GDAX) December 20, 2017

On Wednesday, Coinbase CEO Brian Armstrong said the following in a blog post:

Today we announced support for Bitcoin Cash (BCH). It appears the price of Bitcoin Cash on other exchanges increased in the hours before our announcement.

We've had a trading policy in place for some time at Coinbase. The policy prohibits employees and contractors from trading on “material non-public information”, such as when a new asset will be added to our platform. In addition to trading restrictions, it prohibits communication of material non-public information outside the company. This includes to friends and family.

I take the confidentiality of material non-public information very seriously as CEO. Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter. If we find evidence of any employee or contractor violating our policies — directly or indirectly — I will not hesitate to terminate the employee immediately and take appropriate legal action.