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First NFT Insider-Trading Trial Leads to Criminal Conviction

  • Ex-OpenSea manager found guilty by jury in NY federal court
  • Nathaniel Chastain convicted of wire fraud, money laundering
OpenSea Photo Illustrations
Photographer: Jakub Porzycki/NurPhoto/Getty Images
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US prosecutors won the first-ever insider-trading trial involving digital assets with the conviction of a former product manager at the largest NFT marketplace for using confidential information to make thousands of dollars in profit. 

Nathaniel Chastain, who worked for OpenSea, was found guilty of wire fraud and money laundering by a jury in federal court in Manhattan Wednesday following a week-long trial and two days of deliberations.