Coinbase Manager Pleads Guilty to Insider Trading on Tokens (1)

A former Coinbase Global Inc. manager admitted participating in a scheme to trade on confidential information about when the exchange was going to list new tokens.

Ishan Wahi pleaded guilty to two counts of conspiracy to commit wire fraud Tuesday before US District Judge Loretta Preska. His plea came just a little less than a month after his brother, Nikhil Wahi, was sentenced to 10 months in prison for trading on tips given to him by his sibling.

“I’m very sorry for what I did and I deeply apologize,” Ishan Wahi said in court Tuesday.

Prosecutors agreed to federal ...