Insider trading at Coinbase results in a 10-month prison sentence

January 10, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Illustration by Alex Castro / The Verge

What’s been called the first cryptocurrency-related insider trading case has resulted in prison time for one Nikhil Wahi, who pled guilty to conspiracy to commit wire fraud, according to Bloomberg and Reuters.

Last summer, Wahi was accused of getting information from his brother, a now-former project manager at Coinbase, and using it to buy coins before they were listed for sale on the popular exchange. This reportedly made him around $892,500 — which he’ll have to pay back according to the terms of his sentencing, in addition to spending 10 months in prison.

The case, brought on by the Southern District of New York, isn’t finished yet. Ishan Wahi, Nikhil’s brother who’s been accused of sharing information from Coinbase Asset Listing…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Insider trading at Coinbase results in a 10-month prison sentence

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