First NFT insider trading case convicts former OpenSea director
An unprecedented ruling by the United States Department of Justice (DOJ) has found Nathaniel Chastain, the former director of product at OpenSea, guilty of fraud and money laundering.
The verdict comes as a result of Chastain trading non-fungible tokens (NFTs) utilizing inside information about the upcoming featured assets on the OpenSea platform.
Nathaniel Chastain was accused of buying NFTs that he planned to list on the OpenSea NFT trading site. Prosecutors said that Chastain then sold them soon after ...