Ex-OpenSea Executive Nate Chastain Gets 3 Months in Prison for Insider Trading

Chastain, 33, was convicted of fraud and money laundering in federal court in New York in May. The conviction marked the end to what prosecutors called the first prominent NFT insider trading case. Chastain reaped more than $50,000 by buying and selling at least 45 NFTs he knew would be featured on OpenSea’s homepage, concealing his purchases using various anonymous wallets and OpenSea accounts, according to the U.S. Justice Department.

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• Source: https://www.coindesk.com/policy/2023/08/22/ex-opensea-executive-nate-chastain-gets-3-months-in-prison-for-insider-trading/?utm_medium=referral&utm_source=rss&utm_campaign=headlines