{"id":67056,"date":"2022-09-13T10:38:00","date_gmt":"2022-09-13T07:38:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67056"},"modified":"2025-09-07T04:39:19","modified_gmt":"2025-09-07T01:39:19","slug":"brother-of-former-coinbase-employee-pleads-guilty-to-insider-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/brother-of-former-coinbase-employee-pleads-guilty-to-insider-trading\/","title":{"rendered":"Brother of former Coinbase employee pleads guilty to insider trading"},"content":{"rendered":"<p>Nihil Vahi, who, together with his brother Ishaan Vahi, a former Coinbase product manager, was charged with insider trading, <a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/tippee-pleads-guilty-first-ever-cryptocurrency-insider-trading-case\">pleaded guilty<\/a> himself. He faces up to 20 years in prison.<\/p>\n<p>The defendant agreed with the government&#8217;s theory that he traded on the basis of non-public information about a planned Coinbase listing of digital assets. According to <a href=\"https:\/\/www.law360.com\/articles\/1529668\/ex-ex-coinbase-worker-s-brother-cops-to-crypto-insider-trading-\"> Law360<\/a>, Nihil Vahi will begin serving his sentence on December 13.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI knew that it was wrong to obtain confidential information and trade on its basis,\u201d he told the judge.<\/p>\n<\/blockquote>\n<p>The defendant acknowledged that such a plea would be followed by deportation from the country.<\/p>\n<p>His brother plans to challenge the charges. The defence contends that cryptocurrencies are not securities and, therefore, do not fall under insider-trading laws.<\/p>\n<p>Prosecutor Noah Soloveichik stressed that the Department of Justice, in its filing, did not specify the status of the assets.<\/p>\n<p>Hearings in Ishaan Vahi&#8217;s case are set for March 22. Samir Ramani, who was also charged in the scheme&#8217;s orchestration, is out on bail.<\/p>\n<p>Earlier, the Vahi brothers<a href=\"https:\/\/u1f987.com\/en\/news\/former-coinbase-executive-arrested-on-suspicion-of-insider-trading\"> were arrested<\/a> in July 2022. The prosecutors noted that Ishaan had access to data when the company intended to make relevant public disclosures and commence trading.\u00a0<\/p>\n<p>Between June 2021 and April 2022, the former exchange employee at least 14 times passed this confidential information to his brother and Ramani.\u00a0<\/p>\n<p>Earlier, the OpenSea former employee Nathaniel Chastain<a href=\"https:\/\/u1f987.com\/en\/news\/ex-opensea-employee-accused-of-insider-trading-appeals-verdict\"> disputed<\/a> the court&#8217;s verdict. In June, the jurors found him guilty of fraud and money laundering.<\/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, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nihil Vahi, who, together with his brother Ishaan Vahi, a former Coinbase product manager, was charged with insider trading, pleaded guilty.<\/p>\n","protected":false},"author":1,"featured_media":67057,"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":[138,1162,1156],"class_list":["post-67056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-court-cases","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67056","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=67056"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67056\/revisions"}],"predecessor-version":[{"id":67058,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67056\/revisions\/67058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67057"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}