Former NFT Marketplace Worker Must Face Insider Trading Charges
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A former employee of OpenSea, the world’s largest NFT marketplace, lost a bid to dismiss insider trading charges.
A former employee of OpenSea, the world's largest NFT marketplace, lost a bid to dismiss insider trading charges in the first such case involving digital assets. Nathaniel Chastain, a former product manager at OpenSea, was arrested in June on wire fraud and money-laundering charges. He was responsible for selecting NFTs that were to be featured on OpenSea's homepage between June and September 2021, according to the government. While the company kept the information confidential, Chastain secretly bought dozens of NFTs shortly before they were featured, selling them later for two to five times more than he paid, prosecutors said. Chastain had asked US District...