A onetime product manager for digital art marketplace OpenSea got some bad news this week from a Manhattan federal judge, days ahead of trial in a novel insider trading case against him.
A Manhattan federal judge has rebuffed defense arguments from Nathaniel Chastain that the prosecution is doomed because OpenSea’s confidential plans to feature new non-fungible tokens, or NFTs, on its website every few days were not inherently valuable and therefore cannot be the basis of wire fraud charges.
Source: In NFT insider trading case, judge says secret website plans can be basis for wire fraud | Reuters
