Coinbase looked at the data from many different angles and concluded that not only were there no price manipulation alerts in our trade surveillance software, but we did not find any evidence of collusion or single actors that pushed the price higher. We believe our books properly operated according to the availably liquidity at the time which, in stablecoin markets, may become thin as price moves away due to the collateralized nature of these markets. And, Coinbase Price Oracle accurately reported data throughout the DAI price increase.
Pete Elkins
Head of Trade Surveillance and Market Health
Coinbase