OpenSea’ Former Head Of Product Indicted In Insider Trading Charge
After an insider trading incident, a court has charged the former head of product at NFT marketplace OpenSea with wire fraud and money laundering. OpenSea Employee Charged With Insider Trading Nathaniel Chastain was detained in New York City on Wednesday morning. According to a press release issued by the Department of Justice on Wednesday, he […]
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Insider trading charges have started to hit the crypto markets. Easily the biggest story yet in this topic came in recent months, with the indictment of former OpenSea head of product, Nate Chastain. The gavel is impending once more this week, as the brother of an ex-Coinbase manager has pled guilty to a wire fraud […]
Allegations of NFT insider trading have been confirmed by OpenSea, which issued a statement about its head of product lead. An OpenSea executive has been outed for hyping nonfungible tokens he purchased and then featuring them on the homepage of the popular NFT marketplace — a move that presumably allowed him to sell the art pieces for a quick profit.Nate Chastain, who serves as OpenSea’s head of product, allegedly used burner wallets to purchase NFTs, which were then featured on the front page of OpenSea — where they’d receive the most attention — before unloading them. A Reddit user....
The U.S. Department of Justice (DOJ) has indicted an employee of non-fungible token (NFT) marketplace Opensea in what the department called the “first-ever digital asset insider trading scheme.”
DOJ Indicts Former Opensea Product Manager
The DOJ announced Wednesday the unsealing of an indictment charging Nathaniel Chastain, a former product manager at Ozone Networks Inc. (aka Opensea), in its “first-ever digital asset insider trading scheme.” Chastain was arrested Wednesday morning in New York.
The Justice Department explained that from....
The commission could be performing routine check-ups on the exchange in question, or it could be looking for specific compliance violations to litigate against. The Securities and Exchange Commission (SEC) has reportedly launched a probe to discover how crypto exchanges are working to prevent insider trading.FOX Business reported on June 15 that a person with direct knowledge of the SEC’s activities said that the commission had sent a letter to a major crypto exchange requesting information about how the platform protects users from insider trading. The source believes the same letter has....
The Silkroad was considered the EBay of drugs. Ross Ulbricht, the alleged head of the infamous Silk Road, was officially indicted in court today. His charges included all of what was expected - drug trafficking, computer hacking, and money laundering - as well as “continuing criminal enterprise,” a charge that adds a second possible life sentence if found guilty on all counts, and another ten years to his possible minimum sentence of twenty years. Joshua Dratel, a lawyer for Ulbricht, said in a statement, “the indictment was expected and does not contain any new factual allegations.” He....