OpenSea in Hot Water as Executive Charged With Insider Trading

Jun 6, 2022

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OpenSea in Hot Water as Executive Charged With Insider Trading

Originally posted here.
By: Adewumi Victor

Overview

A former OpenSea executive, Nathaniel Chastain, has been arrested and booked on charges of insider trading of NFTs, money laundering and wire fraud. Per the press statement released by the U.S. Attorney’s Office in the Southern District of New York (SDNY), Nathaniel Chastain was arrested officially on Wednesday and charged with wire fraud and money laundering in a scheme to commit insider trading. The accused was a top executive at OpenSea before his contract was terminated after being accused of committing insider trading on NFT collections.

In the press release, U.S. Attorney Damian Williams commented, “NFTs …

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