Former NFT Marketplace Employee Charged in Insider Trading Scheme

The Justice Department has charged a former employee of the NFT marketplace with fraud and money laundering in what prosecutors say is the first case involving insider trading in digital tokens. .

An unsealed indictment Wednesday in New York accused Nathaniel Chastain, a 31-year-old former product manager at online marketplace OpenSea, of using inside information to profit on NFTs, or tokens. unsold, featured on his owner’s homepage. Mr. Chastain was arrested Wednesday morning and subsequently pleaded not guilty under his arrangement in a Manhattan federal court. A federal magistrate judge set his release at $100,000 and ordered him to turn over his passport and have no contact with current or former OpenSea employees. Former NFT Marketplace Employee Charged in Insider Trading Scheme

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