Based on Cryptonews, Jeff Dorman, CIO of Arca, criticized Coinbase CEO Brian Armstrong for allegedly manipulating prediction markets during the company’s Q3 earnings call. Armstrong mentioned specific keywords—Bitcoin, Ethereum, Blockchain, Staking, and Web3—after tracking prediction bets on platforms like Polymarket and Kalshi, allowing some bettors to win over $84,000 in staked funds. Dorman called the move a mockery of the industry and harmful to institutional trust in crypto. Coinbase later clarified that employees are prohibited from participating in company-related prediction markets.
Arca's Jeff Dorman Criticizes Coinbase CEO for Earnings Call Prediction Market Stunt
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