First-Ever NFT Insider-Trading Case Heads to Trial

A former OpenSea employee is accused of using confidential information to buy digital tokens before they were featured by the company.

• 2023-04-24
• Nathaniel Chastain OpenSea federal prosecutors confidential information insider trading Damian Williams Chastain Justice Department digital tokens

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