Coinbase Insider Trading Scandal Rocks Crypto Community – Former Employee Pleads Guilty
Source: AdobeStock / Thomas Dutour A former employee of major cryptocurrency exchange Coinbase has pleaded guilty to insider trading, marking the first crypto-related insider trading case in the US. Ishan Wahi, a former Coinbase product manager, has pled guilty to two counts of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets by using confidential information about cryptocurrencies scheduled to be listed on the platform, the DOJ said in a press release Tuesday. As reported, the charges against Wahi were first filed in July last year in federal court in the Southern District of New York. "Wahi is the first insider to admit guilt in an insider trading case involving the cryptocurrency markets," Damian Williams, the U.S. attorney for the Southern District of New York, said, adding: "Whether it occurs in the equity markets or the crypto markets, stealing confidential business information f...