U.S. prosecutors will square off this week against a former employee of OpenSea, the world’s largest marketplace for non-fungible tokens (NFTs), whom they accuse of insider trading.
The charges against Nathaniel Chastain, a former OpenSea product manager, were the first in a series of high-profile cases related to digital assets launched by the Manhattan U.S. Attorney’s office last year. It is considered the first criminal insider trading case involving such assets.
Prosecutors have accused Chastain of secretly buying dozens of NFTs based on confidential information that the tokens, or others from the same creators, would soon be featured on OpenSea’s home page.
Source: Ex-OpenSea manager’s trial kicks off in first NFT insider trading case | Reuters
