This article is actually spot on... Anyone who follows one of the numerous API bot services noticed $ZRX get added to Coinbase Pro's API moments prior to the announcement and subsequent pop https://t.co/v7POAbGnwH
Bullshit the bots knew, it’s because there are some dirty fuckers in Coinbase who can make fast money and do so anyways. Bet you $100000 that a few Coinbase top dogs messaged some friends and told them to buy 0x
It's not even technically illegal. Most, if not all, exchanges operate this way. They can in many cases underpay employees and the employees can make up the difference and more by exploiting inside information.
So, with knowledge that only an insider could've possessed, a bunch of people started trading before the knowledge became public and made a huge profit as a result? Huh, I wonder if there's a term for that...
That is not what the article said. The coinbase public API was apparently updated to reflect the new listing 4 minutes before the official announcement. Anyone monitoring the API feed would have known about it at that time, not just an insider. It is still an error by coinbase though.