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2nd June 2022, 12:32 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 153,575
| Former OpenSea employee charged in first-ever case of digital asset insider trading Nathaniel Chastain, the former OpenSea product manager who resigned after he was revealed to be using privileged information to sell NFTs, has been indicted for wire fraud and money laundering, the Department of Justice announced today. This marks the first insider trading case involving digital assets, the agency said. It was originally unclear if anything would happen to Chastain, following his resignation, since the sale of NFTs isn't regulated. His plan wasn't exactly groundbreaking: He knew what NFTs were going to be featured on OpenSea's homepage, so he surreptitiously purchased and sold them for a massive profit. https://www.engadget.com/opensea-nft...0.html?src=rss |
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