US charges OpenSea ex-employee in first NFT insider trading case

1/6/2022 8:48:00 PM

US charges OpenSea ex-employee in first NFT insider trading case

US charges OpenSea ex-employee in first NFT insider trading case

NEW YORK: US prosecutors in Manhattan on Wednesday (Jun 1) charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets. Nathaniel Chastain, 31, of Manhattan, was accused of secretly buying

NEW YORK: US prosecutors in Manhattan on Wednesday (Jun 1) charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.Nathaniel Chastain, 31, of Manhattan, was accused of secretly buying 45 NFTs on 11 separate occasions based on confidential information that the tokens, or others by the same creator, would soon be featured on OpenSea's home page.

Prosecutors said Chastain sold his NFTs at a profit shortly after they were featured, typically two to five times what he paid.They said that in one instance, Chastain more than quadrupled his money by purchasing the NFT"Spectrum of a Ramenfication Theory" on Sep 14, 2021, and selling it early the next morning shortly after it was featured.

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LinkedIn NEW YORK: US prosecutors in Manhattan on Wednesday (Jun 1) charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.LinkedIn ANKARA: A chief adviser to Turkey's president told his US counterpart that Turkey wanted"concrete steps" on the existence of what it calls"terrorist organisations" in Finland and Sweden before it would consider their NATO bids, the Turkish presidency said.Copy to clipboard https://str.LinkedIn HONG KONG: Chinese conglomerate Fosun International said on Tuesday (May 31) it has agreed to sell all its 4.

Nathaniel Chastain, 31, of Manhattan, was accused of secretly buying 45 NFTs on 11 separate occasions based on confidential information that the tokens, or others by the same creator, would soon be featured on OpenSea's home page. Prosecutors said Chastain sold his NFTs at a profit shortly after they were featured, typically two to five times what he paid. Turkey has objected to the two countries' joining the Western defence alliance on the grounds that they harbour people linked to the Kurdistan Workers Party (PKK) militant group and others it deems terrorists, and because Finland and Sweden halted arms exports to Turkey in 2019. They said that in one instance, Chastain more than quadrupled his money by purchasing the NFT"Spectrum of a Ramenfication Theory" on Sep 14, 2021, and selling it early the next morning shortly after it was featured. Turkey has objected to the two countries' joining the Western defence alliance on the grounds that they harbour people linked to the Kurdistan Workers Party (PKK) militant group and others it deems terrorists, and because Finland and Sweden halted arms exports to Turkey in 2019. Prosecutors said the scheme ran from June to September 2021, when Chastain was responsible for selecting which NFTs would be featured, and that he transacted through anonymous digital currency wallets and accounts at OpenSea. "It was emphasised that it is imperative for Sweden and Finland to take concrete steps regarding the terrorist organisations that threaten Turkey's national security," it added. "NFTs might be new, but this type of criminal scheme is not," US Attorney Damian Williams in Manhattan said in a statement.78 million H shares of Tsingtao at HK$62 apiece, a 4.

"Today's charges demonstrate the commitment of this office to stamping out insider trading - whether it occurs on the stock market or the blockchain." Sweden and Finland have said they condemn terrorism and are open to dialogue. The White House said Mr Sullivan in the call"expressed support for Turkey's continued direct talks with Sweden and Finland to resolve concerns over their applications for Nato membership, which the US strongly supports." Chastain was charged with wire fraud and money laundering, each carrying a maximum 20-year prison term. A lawyer for Chastain could not immediately be identified. Erdogan said in comments published in The Economist on Monday that Turkey's commitment to NATO was unchanged, and he called on allies to focus their efforts on"persuading" the candidate countries. "When we learned of Nate's behavior, we initiated an investigation and ultimately asked him to leave the company," OpenSea said in a statement. Mr Erdogan said in comments published in The Economist on Monday that Turkey's commitment to Nato was unchanged, and he called on allies to focus their efforts on"persuading" the candidate countries."His behavior was in violation of our employee policies and in direct conflict with our core values and principles."There is no authority in Ankara that can be told what to do by any country that is unwilling to fight terrorism.49 per cent of Tsingtao, held by Fosun Industrial.

" Source: Reuters .