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Breaking: OpenSea Ex-manager Convicted Of Money Laundering In NFT Insider Trading


by Coingape
nft opensea crypto news

Crypto News: The first ever trial involving insider trading of non-fungible tokens (NFTs) finally met its fate on Wednesday. The former executive of OpenSea, the world’s largest marketplace for trading NFTs announced convicted for fraud and Money laundering by the court.

Also Read: Coinbase Legal Head Meets Ripple Chief Legal Officer; Will Coinbase Relist XRP?

As per the report, Nathaniel Chastain, the convicted former Opensea product manager used inside knowledge of which digital arts would be issued on the front page for trading. Prosecutors stated that Ex OpenSea employe used to buy NFTs before featuring them on the website and sold them shortly. However, made more than $50,000 in illegal profits.

(THIS IS A DEVELOPING STORY)

The post Breaking: OpenSea Ex-manager Convicted Of Money Laundering In NFT Insider Trading appeared first on CoinGape.

Read the article at Coingape

Read More

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Celebrity-themed crypto market recovers 200% on Kanye West’s YZY explosive debut

While the broader market signaled potential recoveries, cryptocurrencies tied to cel...
Stellar Faces Selling Pressure as Technical Indicators Signal Downtrend

Stellar Faces Selling Pressure as Technical Indicators Signal Downtrend

Stellar's price suffered a notable decline despite a 300% yearly increase. The future...

Breaking: OpenSea Ex-manager Convicted Of Money Laundering In NFT Insider Trading


by Coingape
nft opensea crypto news

Crypto News: The first ever trial involving insider trading of non-fungible tokens (NFTs) finally met its fate on Wednesday. The former executive of OpenSea, the world’s largest marketplace for trading NFTs announced convicted for fraud and Money laundering by the court.

Also Read: Coinbase Legal Head Meets Ripple Chief Legal Officer; Will Coinbase Relist XRP?

As per the report, Nathaniel Chastain, the convicted former Opensea product manager used inside knowledge of which digital arts would be issued on the front page for trading. Prosecutors stated that Ex OpenSea employe used to buy NFTs before featuring them on the website and sold them shortly. However, made more than $50,000 in illegal profits.

(THIS IS A DEVELOPING STORY)

The post Breaking: OpenSea Ex-manager Convicted Of Money Laundering In NFT Insider Trading appeared first on CoinGape.

Read the article at Coingape

Read More

Celebrity-themed crypto market recovers 200% on Kanye West’s YZY explosive debut

Celebrity-themed crypto market recovers 200% on Kanye West’s YZY explosive debut

While the broader market signaled potential recoveries, cryptocurrencies tied to cel...
Stellar Faces Selling Pressure as Technical Indicators Signal Downtrend

Stellar Faces Selling Pressure as Technical Indicators Signal Downtrend

Stellar's price suffered a notable decline despite a 300% yearly increase. The future...