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Former NFT Marketplace Worker Must Face Insider Trading Charges

The Bored Ape Yacht Club NFT collection on the OpenSea marketplace. — The Bored Ape Yacht Club NFT collection on the OpenSea marketplace.
Photographer: Tiffany Hagler-Geard/Bloomberg

By

Chris Dolmetsch

October 21, 2022, 3:07 PM UTCCorrectedOctober 24, 2022, 10:22 PM UTC

A former employee of OpenSea, the world’s largest NFT marketplace, lost a bid to dismiss insider trading charges in the first such case involving digital assets.

Nathaniel Chastain, a former product manager at OpenSea, was arrested in June on wire fraud and money-laundering charges. He was responsible for selecting NFTs that were to be featured on OpenSea’s homepage between June and September 2021, according to the government.