{"id":66161,"date":"2022-08-23T10:01:23","date_gmt":"2022-08-23T07:01:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66161"},"modified":"2025-09-06T23:53:26","modified_gmt":"2025-09-06T20:53:26","slug":"ex-opensea-employee-accused-of-insider-trading-appeals-verdict","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ex-opensea-employee-accused-of-insider-trading-appeals-verdict\/","title":{"rendered":"Ex-OpenSea employee accused of insider trading appeals verdict"},"content":{"rendered":"<p>Lawyers for former OpenSea head of product Nathaniel Chastain <a href=\\\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.580756\/gov.uscourts.nysd.580756.19.0.pdf\\\">filed an appeal<\/a> against the indictment against him.<\/p>\n<p>\\n\\n<\/p>\n<p>In June, a jury found him guilty of fraud and money laundering in a scheme involving insider trading on the OpenSea marketplace.<\/p>\n<p>\\n\\n<\/p>\n<p>In the motion, the lawyers argued that internet fraud is associated with securities and commodities. However, NFTs are neither, they added.<\/p>\n<p>\\n\\n<\/p>\n<p>The lawyers also contend that authorities cannot substantiate treating crypto transactions as financial transactions under anti-money laundering rules.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThe government initiated the prosecution, using an unfounded application of criminal law to set a precedent in the digital assets space,\u201d<\/em> \u2014 the specialists concluded.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Earlier, in September 2021 OpenSea <a href=\\\"https:\/\/forklog.io\/nft-marketplejs-opensea-uvolil-ulichennogo-v-insajderskoj-torgovle-sotrudnika\/\\\">terminated<\/a> the employment of an unnamed employee involved in insider trading. This coincided with Chastain&#8217;s departure from the company, who was suspected of wrongdoing. His<a href=\\\"https:\/\/forklog.news\/vlasti-ssha-obvinili-byvshego-menedzhera-opensea-v-insajderskoj-torgovle\/\\\"> arrest<\/a> on June 1, 2022.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier, Huobi<a href=\\\"https:\/\/forklog.news\/smi-huobi-obvinila-eks-sotrudnika-v-nezakonnoj-torgovle\/\\\"> accused<\/a> the former employee of illegal trading. According to media reports, he allegedly opened a retail trading account in his father&#8217;s name and provided a $20 million line of credit from the exchange for subsequent trading.<\/p>\n<p>\\n\\n<\/p>\n<p> Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawyers for the former OpenSea head of product Nathaniel Chastain filed an appeal against the indictment.<\/p>\n","protected":false},"author":1,"featured_media":66162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,1265],"class_list":["post-66161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-opensea"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66161"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66161\/revisions"}],"predecessor-version":[{"id":66163,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66161\/revisions\/66163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66162"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}