Ex-OpenSea Executive Nate Chastain Gets 3 Months in Prison for Insider Trading

Chastain, 33, was convicted of fraud and cash laundering in federal courtroom in New York in Might. The conviction marked the top to what prosecutors referred to as the primary outstanding NFT insider buying and selling case. Chastain reaped greater than $50,000 by shopping for and promoting not less than 45 NFTs he knew could be featured on OpenSea’s homepage, concealing his purchases utilizing numerous nameless wallets and OpenSea accounts, in line with the U.S. Justice Division.