Ex-Opensea Manager Gets Three Months for NFT Insider Trading (2)

A former employee at the NFT marketplace OpenSea was ordered to spend three months behind bars after being convicted in the first-ever insider-trading case involving digital assets.

Nathaniel Chastain, who used confidential information as head of product at OpenSea to make thousands of dollars, was sentenced Tuesday by US District Judge Jesse M. Furman in New York, after a jury found him guilty in May of wire fraud and money laundering. He was also ordered to forfeit 15.98 Ethereum tokens, worth about $26,000, and pay a $50,000 fine.

Chastain was responsible for choosing which tokens would be featured on OpenSea’s ...