Openseas Head of Product, Nate Chastain resigned from his position, the NFT marketplace confirmed. [5] [6] The daily trading volume on the OpenSea marketplace reached a record $2.7 billion on May 1, 2022, but four months later had dropped by 99%. After a 2018 pre-seed round by Y Combinator, OpenSea raised $2.1 million in venture capital (including from Animoca Brands) in November 2019. [7] [8] OpenSea Insider Trading OpenSea was created by Alex Attalah and Devin Finzer in 2018. In violation of the duties of trust and Insider_Trading - Profile | OpenSea Insider_Trading share more_horiz 0xbcB5f52d Joined December 2021 A group of insiders in Wall Street, Washington DC and Tech Conglomerates illustrating the undying influence of powerful figures in history See more expand_more Collected Created Favorited 5 Activity More expand_more filter_list search All five SEC OpenSea Employee Admits Insider Trading of NFTs Most people think of insider trading as trading company stocks based on confidential or non-public information. Join our mailing list to stay in the loop with our newest feature releases, NFT drops, and tips and tricks for navigating OpenSea. Insider trading on NFTs is, of course, not explicitly illegal yet, because theres so little legal precedent for digital assets on the blockchain, but OpenSea is coming down hard anyway. For some reason, insider trading has OpenSea, a peer-to-peer trading platform and auction site, dominates the NFT space with 65% market share, according to data compiled by The Block. Disgraced former OpenSea product manager Nathaniel Chastain was arrested in New York City on Wednesday for insider trading of NFTs. Both had extensive technology backgrounds at Google and Palantir. A former product manager at OpenSea has asked a judge to ensure that prosecutors are banned from using the phrase "insider trading" as the case continues. Ex-OpenSea exec calls for NFT insider trading charges to be dismissedbecause NFTs are not securities or commodities. BY Marco Quiroz-Gutierrez. Court Dismisses Ex-OpenSea Exec's Effort to Dismiss 'Insider Trading' Case Money Reimagined Digital Money Stage at Consensus 2022 Metaverse Zone at Consensus Opensea is the leading NFT Marketplace, with a reported 99% market share. Thu 2 Jun 2022 // 23:16 UTC. Prosecutors in the United States have denied a request by a former employee of nonfungible token (NFT) marketplace OpenSea to have insider trading references removed On June 1st, 2022, the FBI arrested the former Head of Product at NFT marketplace OpenSea and charged him with insider trading. A former employee at digital marketplace OpenSea has been hit with the first-ever charges related to an alleged insider trading scheme involving digital assets, authorities FBI Arrests Nate Chastain For OpenSea Insider Trading Scam This case concerns insider trading in NFTs on OpenSea, the largest online marketplace for the purchase and sale of NFTs. A former employee of OpenSea, the worlds largest NFT marketplace, lost a bid to dismiss insider trading charges in the first such case involving digital assets. Stay in the loop. OpenSea is an American online non-fungible token (NFT) marketplace headquartered in New York City.The company was founded by Devin Finzer and Alex Atallah in 2017.. OpenSea offers a marketplace allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction, based on the Ethereum ERC-721 standard, the layer-2 scaling solution for Ethereum Various types of activity that appear akin to insider trading seem to be running rampant in the NFT market. August 22, 2022, 10:21 Many of the highest What is OpenSea? OpenSea a giugno stata accusata per il primo presunto caso di insider trading da parte di un suo manager riferito al mondo degli NFT. In January, a $300 million funding round meant the NFT marketplace was worth $13.3 billion more than crypto trading Mentre il mercato degli NFT, come Feds Say Ex-OpenSea Staffer's Case Is Clearly Insider Trading By Katryna Perera Law360 (October 18, 2022, 9:13 PM EDT) -- Prosecutors shot back at a former OpenSea employee's Insider trading was bound to occur in the NFT space, and as the largest NFT marketplace, OpenSea was the most likely target. Nathaniel Chastain, a former head of product at non-fungible token (NFT) marketplace The latest development comes shortly after the Department of Justice charged OpenSeas former head of product with one count of wire fraud and one count of money laundering. Meanwhile, accusations of insider trading against Chastain surfaced in September 2021. Reportedly, he made himself around 19 ETH or $67,000 in profit. While the start-up did not identify the employee, on Tuesday, OpenSea's head The ex-OpenSea executive has filed to dismiss the DOJ case that alleges NFT insider trading. Items featured on OpenSea were allegedly being traded by the employee and flipped for profit. The CEO of the leading platform for NFT trading wrote "this is incredibly disappointing." Utility. In January 2022, OpenSea acquired Ethereum wallet-maker Dharma Labs, [13] and OpenSea reimbursed users about $1.8 million after a user interface bug allowed users to buy more than $1 million worth of NFTs at a discount. [14] [15] On January 27, 2022, OpenSea announced it would limit how many NFTs a user can create using the free minting tool. [16] Insider_Trading - Profile | OpenSea Insider_Trading share more_horiz 0xbcB5f52d Joined December 2021 A group of insiders in Wall Street, Washington DC and Tech Conglomerates The judge did concede that the use of the term insider trading may be misleading and said the appropriate response would be to strike the phrase from the indictment and prevent the government from using the term at trial. Essentially, Chastain used his position at OpenSea to conduct insider trading. Ex-OpenSea manager charged with insider trading goes after former employer and FBI. NurPhoto OpenSea has issued a statement after its head of product was accused of insider trading. "Insider trading enforcement Nathaniel OpenSea, a peer-to-peer trading platform and auction site, dominates the NFT space with 65% market share, according to data compiled by The Block. Virtual Worlds. Credit: OpenSea. OpenSea a giugno stata accusata per il primo presunto caso di insider trading da parte di un suo manager riferito al mondo degli NFT. OpenSea decided to part ways with Chastain last month after it had been made aware of the investigation. On June 1, 2022, the DOJ charged Nathaniel Chastain, a former products manager at the non-fungible tokens (NFT) and crypto collectibles marketplace OpenSea, with one count each of wire fraud and money laundering for his alleged insider trading of NFTs. One work, called Spectrum of a Ramenfication Theory, was bought for 0.25 ETH (650) and sold for 1.5 ETH (3,900) just 20 minutes later - after it featured on OpenSeas Mentre il mercato degli NFT, come dimostrato anche dallultimo report a riguardo appena uscito, e che si riferisce al terzo trimestre dellanno, continua nella sua discesa (-80% rispetto al trimestre precedente), scoppi un primo Trading Cards. They have Filed Friday, the motion argues that NFTs are not securities or commoditiesso no insider trading could have taken place. Nathaniel Chastains arrest marks A former employee of OpenSea, the worlds largest NFT marketplace, lost a bid to dismiss insider trading charges in the first such case involving digital assets. OpenSea decided to part ways with Chastain last month after it had been made aware of the investigation. See the new camera it's rolling out (CNN Business) A former employee at digital marketplace OpenSea has been hit with the first-ever charges related to an alleged insider trading scheme involving digital assets, authorities announced Wednesday. A former senior employee at the internets largest NFT trading platform has been arrested and named in the governments first case alleging insider trading of digital assets, the Justice Department said Wednesday.. Nate Chastain, the former head of product at New York-based OpenSea, is accused of buying NFTs soon before the company planned to feature them Both charges carry a maximum prison sentence of 20 years each. Read more: OpenSea Exec Accused of Insider Trading Resigns. This case concerns insider trading in NFTs on OpenSea, the largest online marketplace for the purchase and sale of NFTs. In violation of the duties of trust and confidence he owed to his employer, OpenSea, CHASTAIN exploited his advanced knowledge of what NFTs would be featured on OpenSeas homepage for his personal financial gain. A now-former product boss at a top NFT marketplace was arrested and charged with wire fraud and money laundering in the first-ever insider-trading Insider trading is just one of many issues at OpenSea. OpenSea admits one of its employees was taking part in an NFT-related insider trading scheme. The comment period closed April 1, 2022, but the SEC has yet to adopt final rules concerning Rule 10b5-1 trading plans and insider trading-related disclosure. Prosecutors in the United States have denied a request by a former employee of nonfungible token (NFT) marketplace OpenSea to have insider trading references removed from his charges. The judge did concede that the use of the term insider trading Lawyers for former OpenSea product manager Nate Chastain have filed a motion to dismiss the insider trading charges against the ousted NFT marketplace employee. Prosecutors claimed the statement closely matches the offenses suspected of former OpenSea product manager Nathaniel Chastain in an October 14 memo. OpenSea is an American online non-fungible token (NFT) marketplace headquartered in New York City.The company was founded by Devin Finzer and Alex Atallah in 2017.. OpenSea offers a
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