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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
Corrected

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.