Ex-OpenSea exec dodges insider trading charge, wire fraud trial to continue

U.S. Judge Jesse Furman said the insider trading charge against former OpenSea employee Nate Chastain is “misleading” and should be removed from the record, but the wire fraud trial will continue. The authority alleged that Chastain misappropriated insider information from OpenSea, to trade NFTs that would be featured on the homepage.

Chastain added that the listing information was not property as it was not confidential business information to OpenSea. He claimed that other employees had access to the said information. Presiding Judge Furman said in a court filing that Chastain’s argument had “some force.” She said that given the transparent nature of the transaction on Ethereum, the government might not prove the allegation of money laundering. udge Furman added that since insider trading charges must involve securities. https://cryptoslate.com/ex-opensea-exec-dodges-insider-trading-charge-wire-fraud-trial-to-continue/

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