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How authorities could pursue ‘insider trading’ in crypto

Quick Take Last week a grand jury indicted former OpenSea head of product Nate Chastain for actions related to an alleged insider trading scheme. But Chastain wasn’t indicted for securities law violations, which are usually associated with insider trading. If successful, the case could create a way for US regulators to police front-running in crypto regardless of whether implicated tokens are securities. This feature story is available to subscribers of The Block News Plus. You can continue reading this News …

Former head of product for OpenSea indicted after insider trading scandal

A court has charged the former head of product at non-fungible token (NFT) platform OpenSea on wire fraud and money laundering charges after an insider trading scandal. Nathaniel Chastain was arrested Wednesday morning in New York, New York. He is slated for presentation in the US District Court for the Southern District of New York, according to a Wednesday press release from the Department of Justice. Chastain was previously accused of using secret Ethereum wallets to purchase NFTs based on …