NFTs just made history,abused by doctors sex videos although perhaps not in the way their advocates would have liked.
Disgraced former OpenSea product manager Nathaniel Chastain was arrestedin New York City on Wednesday for insider trading of NFTs. In its statement, the Department of Justice called it the "first ever digital asset insider trading scheme."
Chastain has been charged with one count of wire fraud and one count of money laundering as a result of his NFT insider trading scheme.
NFTs, or non-fungible tokens, are digital assets on a blockchain that represent artwork or other forms of media. OpenSea is the largest NFT marketplace platform, and is where the vast majority of aftermarket sales occur.
According to the U.S. Attorney for the Southern District of New York Damian Williams, Chastain used his insider knowledge of what NFT projects were going to be featured on the OpenSea platform and then exploited that information for personal financial gain.
As part of his position at OpenSea, Chastain was responsible for picking which NFT projects to feature on the marketplace's frontpage. According to the U.S. attorney, from June 2021 to September 2021, Chastain utilized this confidential information about which NFTs would be featured to secretly acquire NFTs using anonymous accounts before they were placed on the homepage. This allowed Chastain to purchase these digital assets at low prices, before they spiked in value as a result of appearing on the frontpage of OpenSea. Chastain reportedly netted two-to-five times his purchase price for the NFTs.
“NFTs might be new, but this type of criminal scheme is not," said U.S. Attorney Damian Williams in a statement. "As alleged, Nathaniel Chastain betrayed OpenSea by using its confidential business information to make money for himself. Today’s charges demonstrate the commitment of this Office to stamping out insider trading – whether it occurs on the stock market or the blockchain.”
The U.S. government has recently signaled that its taking cryptocurrency-related crimes much more seriously. In February, a married NYC couple were arrestedfor their alleged involvement in laundering billions of dollars that were stolen in the 2016 Bitfinex hack.
If convicted, Chastain faces a maximum of 20 years in prison.
Topics Cryptocurrency
Premiere of ‘Pilgrimage to Manzanar’ at Museum of Tolerance
Gmail on Android now lets you ask Gemini to find that pesky lost email
Climate change turns large green sea turtle population female
Winters of Discontent
FaZe fend off OG, advance to Roobet Cup playoffs
Performing Modernity
42 movies you'll want to see this fall
How to unblock Kick for free
karrigan on beating NAVI: "It literally felt like a playoff game"
Best Labor Day deals: Shop Best Buy for discounts on tech, appliances, and more
Obon Carnival and Dance at Nishi Hongwanji
Premier League 2024
Shit Happened
Connecticut Sun vs. Washington Mystics 2024 livestream: Watch live WNBA
forZe replace GODSENT at Roobet Cup
Argentina vs. Australia 2024 livestream: Watch Rugby Championship for free
Microsoft's 'Recall' feature can't be uninstalled after all
Wordle today: The answer and hints for August 30
Author of 'The House on Lemon Street' at JANM
How 'Industry' put Rishi through hell in its 'most intense' episode yet
Black Friday 2024 Nintendo Switch deals: The OLED bundle, games, and SD cardsTikTok could allow 30Will Taylor Swift attend the Super Bowl? What we know.Best Black Friday deals at Best Buy: Sony earbuds gaming laptops, and moreBest Black Friday eBest PS5 Black Friday deals: Compare Best Buy, Amazon, Target, and moreApple Watch no longer has the blood oxygen featureApple Black Friday deals 2024: Big savings on AirPods, iPadsApple Music Replay 2024: How to get itBest Black Friday printer and scanner deals: Save up to 55% on Epson, Canon, HP, more Mark T. Uyeda Sworn In as SEC Commissioner Lai blasted for saying Taiwan is 'a country' PLA slams British hype over patrol vessel's Taiwan Strait transit Mainland calls for cross Separatist acts can't stop civil exchanges 'Stop Asian Hate' Rally Held in Rowland Heights Across China: Taiwan night market finds new home in Chinese mainland Students from both sides of Taiwan Strait compete in a friendly dragon boat race Volcanic Eruption in Japan Forces Evacuations in 2 Towns Lai's speeches spark backlash in Taiwan as critics decry separatist rhetoric
0.2233s , 10292.28125 kb
Copyright © 2025 Powered by 【abused by doctors sex videos】Former OpenSea employee arrested for insider trading of NFTs,Global Hot Topic Analysis
