cryptonews: Former Coinbase product manager Ishan Wahi has pleaded guilty to two counts of wire fraud — marking the first insider trading conviction involving cryptocurrencies. 👀
Former Coinbase product manager Ishan Wahi has pleaded guilty to two counts of wire fraud — marking the first insider trading conviction involving cryptocurrencies.
"Ishan Wahi is the first insider to admit guilt in an insider trading case involving the cryptocurrency markets, U.S. Attorney Damian Williams said in a statement. He added: Coinbase's own Twitter account announced that it was already investigating the case. On May 11, the DoJ said, Coinbase's director of security operations emailed Wahi, telling him to attend "an in-person meeting relating to Coinbase's asset listing process" on May 16.
The Wahis continue to fight that securities fraud case, saying in a dismissal motion on Feb. 6 that the SEC is trying "to seize broad regulatory jurisdiction over a massive new industry.""We are not concerned with labels, but rather the economic realities of an offering," said Gurbir Grewal, director of the SEC's Division of Enforcement. He said:
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