NEW: Ishan Wahi, the former coinbase employee who fed his brother insider information about the exchange’s upcoming crypto listings, has been sentenced to two years in prison after pleading guilty to insider trading charges. cheyenneligon reports
A former Coinbase employee was sentenced to two years in prison on Tuesday weeks after pleading guilty to insider trading charges, according to a report from Reuters.2022 and charged with wire fraud and insider trading for feeding his brother and another man insider information about upcoming crypto listings. From June 2021 to April 2022, authorities say the men made over $1 million trading on Wahi’s information.
, which involved the former head of product at non-fungible token platform OpenSea, was reached on May 3. Nate Chastain was convicted of money laundering and wire fraud for using insider knowledge of which NFTs would be listed on OpenSea to make profitable trades. Chastain has not yet been sentenced, but faces a maximum sentence of 40 years.
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