Prosecutors Used Mail Fraud and Money Laundering Laws to Convict an Insider Who Traded NFTs
Facing up to 40 Years in Prison for About $57,000 from Insider Trading You might have read recently that a New York jury convicted Nathaniel Chastain of insider trading. Chastain worked as a product manager for OpenSea, the largest online NFT marketplace. Chastain’s duties included selecting NFTs to be featured on OpenSea’s homepage. The identify of the NFTs to be featured was confidential information. Chastain knew that the value of the featured NFTs typically increased by…