November 30, 2022

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Crypto and Law: First Case of Insider Trading Related to NFTs

It is a further blow for the crypto sphere. 

Investors have been wondering whether or not the cryptocurrency marketplace has bottomed soon after months of slipping selling prices, amid problem about the economy’s health and fitness and inquiries about a likely UST and Luna coin rip-off. 

Now, federal authorities have submitted the initially charges about insider trading in the sector.

Nathaniel Chastain, 31, has been charged with one count of wire fraud and 1 count of funds laundering, prosecutors with the U.S. Attorney’s Office for the Southern District of New York claimed in a June 1 assertion.