The First NFT Insider Trading Trial Begins

2023-4-25 03:26

In a groundbreaking case, Nathaniel Chastain, a former product manager at OpenSea, the largest NFT marketplace, is on trial for insider trading. Chastain is accused of using confidential information to strategically buy and sell NFTs, profiting significantly from his actions. This trial marks the first of its kind involving non-fungible tokens (NFTs).

As a product manager at OpenSea, Chastain was responsible for selecting which NFTs would be featured on the platform’s homepage. He allegedly used this privileged information to purchase NFTs before they were showcased, and then sold them at a profit once they gained attention. Chastain’s alleged insider trading netted him over $1 million in profits.

The government is seeking to convict Chastain on charges of wire fraud and money laundering in relation to his NFT trades. Chastain’s lawyers, however, are arguing that their client did not commit insider trading, and that the information he accessed was not confidential.

Conclusion:

The trial, expected to last one to two weeks, could have significant implications for the future of NFT trading. As this new form of digital assets continues to gain popularity, the outcome of Chastain’s case may set a precedent for how insider trading is treated in the world of cryptocurrency and blockchain-based assets.

Stay tuned for updates on this groundbreaking trial as it unfolds. To read more about the case, visit our website, and don’t forget to share this article with your friends and followers to keep them informed about this important development in the NFT space.

The post The First NFT Insider Trading Trial Begins appeared first on NFT News Today.

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Источник: nftnewstoday.com

trading insider → Результатов: 126


First NFT insider trading case launched: Potential to set precedent for digital assets

Former OpenSea product manager, Nathaniel Chastain, has been accused of insider trading — marking the first criminal insider trading case involving digital assets, according to a Reuters report. According to the report, Chastain has been accused of using confidential information to secretly purchase NFTs — later profiting by featuring and selling them on the OpenSea […] The post First NFT insider trading case launched: Potential to set precedent for digital assets appeared first on CryptoSlate.

2023-4-25 18:02


Crypto’s Self-Policing Unveils Insider Trading at $1.5 Bln Valued NFT Marketplace, OpenSea

Popular non-fungible token (NFT) marketplace OpenSea addressed the reports of its employee being involved in insider trading. It was only this week that it “learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” said Devin Finzer, CEO and co-founder of […] The post Crypto’s Self-Policing Unveils Insider Trading at .

2021-9-17 22:10


Фото:

‘Thank God They Cleared Themselves’ – Coinbase Finds No Hint of Insider Trading

Coinbase has revealed unofficially that its internal investigation into insider trading of Bitcoin Cash found no evidence of foul play. ‘No Disciplinary Action’ In private comments to Fortune, the US’ largest cryptocurrency exchange said that as of last week, the long-awaited investigation had come to an end, but that “no disciplinary action” would occur.

2018-7-25 12:00


Фото:

Report: Japan’s Crypto Exchange Body to Release Rules

Japan’s Virtual Currency Exchange Association (JVCEA) will reportedly be releasing new voluntary rules next week, Cointelegraph Japan reports today, June 18. The official announcement of the regulatory guidelines, set for June 27th, will reportedly include a ban on insider trading, penalizing cryptocurrency exchange employees if they engage in “inappropriate” trading due to their firsthand knowledge.

2018-6-19 01:32


Глава Skycoin признался в торговых манипуляциях с токеном компании

Пользователь Twitter Джаред Данн (Jared Dunn) выложил двухминутную аудиозапись, на которой генеральный директор компании Skycoin Синт (Synth) признается, что некоторые члены команды и администраторы Telegram-канала производят торговые манипуляции с монетой SKY.

2018-6-18 16:01


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