A former executive at the largest online marketplace for buying and selling non-fungible tokens (NFTs) has been charged with insider trading in a first-of-its-kind case for the Justice Department (DOJ).
Nate Chastain, a former product manager at New York-based OpenSea, was apprehended in New York on Wednesday before appearing in the U.S. court for the Southern District of New York, the DOJ said in a press release.
The 31-year-old faces one count of wire fraud and one count of money laundering, in connection with a scheme to commit insider trading in NFTs, “using confidential information about what NFTs were going to be featured on OpenSea’s homepage for his personal financial gain,” the DOJ said….