OpenSea Ex-Head of Product Convicted in NFT Insider Trading Case

It's the first criminal case of an insider trading scheme involving digital assets, says the DOJ.

• 2023-05-04
• OpenSea Nathaniel Chastain digital assets money laundering Damian Williams insider trading Chastain

Ex-OpenSea Worker Found Guilty in First NFT Insider-Trading Case

A former employee of NFT marketplace OpenSea was found guilty Wednesday of what federal prosecutors described as the first insider-trading case involving digital tokens, marking a win for the Justice Department in its push to police the crypto industry. A federal jury in New York convicted Nathaniel Chastain of wire fraud and money laundering for using nonpublic information from his employer to trade on nonfungible tokens in 2021. The Manhattan U.S. attorney’s office charged Mr. Chastain in 20

• 2023-05-04
• OpenSea Nathaniel Chastain NFT federal prosecutors insider trading Justice Department David Miller Chastain digital tokens

Ex-OpenSea manager convicted in NFT insider trading case

A former product manager at OpenSea, the world's largest marketplace for non-fungible tokens (NFTs), was convicted on Wednesday of fraud and money laundering for using inside knowledge of which assets would be featured on its home page to trade NFTs. Nathaniel Chastain was accused of buying NFTs he had decided to feature on the OpenSea website and selling them shortly afterward to make more than $50,000 in illegal profit, in what federal prosecutors in Manhattan described as the first insider t

• 2023-05-04
• OpenSea Nathaniel Chastain closing argument digital assets product manager federal prosecutors

Ex-OpenSea manager's trial kicks off in first NFT insider trading case

U.S. prosecutors will square off this week against a former employee of OpenSea, the world's largest marketplace for non-fungible tokens (NFTs), whom they accuse of insider trading. The charges against Nathaniel Chastain, a former OpenSea product manager, were the first in a series of high-profile cases related to digital assets launched by the Manhattan U.S. Attorney's office last year. It is considered the first criminal insider trading case involving such assets.

• 2023-04-24
• insider trading OpenSea Nathaniel Chastain confidential information digital assets Manhattan U.S. Attorney