Ex-Coinbase Manager’s Brother Pleads Guilty in Insider Case (1)

The brother of a former Coinbase Global Inc. product manager pleaded guilty to participating in a scheme to trade on inside information about when the cryptocurrency exchange was going to list new tokens.

Nikhil Wahi, 26, entered his plea on Monday to a single conspiracy count in a video hearing before US District Judge Loretta Preska in Manhattan, according to court records. The government hailed Wahi’s guilty plea as a significant milestone in law enforcement efforts in the crypto space.

“For the first time ever, a defendant has admitted his guilt in an insider trading case involving the cryptocurrency markets,” ...