Former Coinbase product manager Ishan Wahi and two of his associates were arrested on charges related to insider trading. The federal authorities said the case was the first crypto insider trading scheme on record. Ex-Coinbase Product Manager Arrested in Insider Trading Scheme According to a statement from the Department of Justice (DoJ), Coinbase product manager Ishan Wahi, his brother Nikhil Wahi and Ishan’s friend Sameer Ramani have been charged with wire fraud conspiracy and wire fraud, both of which revolve around crypto insider trading based on confidential Coinbase information. Ishan, who had access to confidential information about the listing schedule of assets on Coinbase, would tip Nikhil or his associate Sameer. The duo would then place trades on those assets, anticipating the public disclosure of the announcement concerning the listing of the assets. The three allegedly profited at least $1.5 million in illegal trades from 25 different crypto assets on 14 occasions, from June 2021 to April 2022, according to the DoJ. “Today’s charges are a further reminder that Web3 is not a law-free zone,” Damian Williams, a U.S. Attorney for the Southern District of New York, stated in the release. “Just last month, I announced the first ever insider trading case involving NFTs, and today I announce the first ever insider trading case involving cryptocurrency markets. Our message with these charges is clear: fraud is fraud is fr...
XRP Price Prediction For 24 November
