NFT Crowd’s ‘Alpha’ Might Put Them in Jail: Bloomberg Crypto

In this edition of the Bloomberg Crypto newsletter, Emily Nicolle takes a seat in court at the first-ever NFT insider-trading trial:

OpenSecrets

If you’re new to the world of nonfungible tokens, it doesn’t take long before the word “alpha” pops up in your vocabulary.

In traditional finance, the term refers to the excess return on an investment relative to a benchmark. But for crypto investors, it means super-secret, early knowledge of the market’s next big thing — an asset which could earn them some serious cash. But now, the legality of that concept is getting put to the ...