The Department of Justice Goes After Its First NFT Insider Trading Case - Ep 359

Published: June 3, 2022, 7:30 a.m.

b'Jason Gottlieb, a crypto attorney and partner at Morrison Cohen, discusses the insider trading case being built by the US Department of Justice against former OpenSea employee Nathaniel Chastain. Show topics:\\n why Nathaniel is being charged with wire fraud and money laundering instead of insider trading\\n what makes NFT insider trading different from usual insider trading indictments\\n why an employee\\u2019s \\u201cduty of confidentiality\\u201d can be important when building an insider trading case\\n whether the money laundering charge makes sense\\xa0\\n whether moving money between self-custodied wallets constitutes money laundering\\n why Jason does not think this particular case will have widespread implications for the NFT and crypto space\\n Jason\\u2019s advice for employees at crypto exchanges and companies who may be tempted to trade on private information\\n what happens next in the Chastain case\\n why the potential sentences are so long \\u2013 20 years for each charge\\n how likely it is that Chastain has to serve jail time\\n \\xa0\\n Thank you to our sponsors!\\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\\xa0\\n Ava Labs: https://avax.network\\xa0\\n \\xa0\\n Episode Links\\n \\xa0\\n Jason Gottlieb\\n Website: https://www.morrisoncohen.com/jgottlieb\\n\\n Twitter: https://twitter.com/ohaiom\\xa0\\n \\xa0\\n Department of Justice Press Release\\n \\n https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme\\xa0\\n \\xa0\\n Nathaniel Chastain\\n Arrest\\n https://www.coindesk.com/policy/2022/06/01/us-charges-ex-opensea-exec-with-nft-insider-trading/\\n https://www.theblockcrypto.com/linked/149685/former-head-of-product-for-opensea-indicted-after-insider-trading-scandal\\n \\n Resignation\\n https://www.coindesk.com/business/2021/09/16/opensea-exec-accused-of-insider-trading-leaves-company/\\n \\n Insider trading allegations\\n https://www.coindesk.com/business/2021/09/15/insider-trading-allegations-rock-opensea-nft-marketplace-responds/\\n \\n Twitter\\n \\nhttps://twitter.com/natechastain\\xa0\\n \\n \\xa0\\n Insider Trading and Crypto\\n https://www.morrisoncohen.com/siteFiles/files/Insider%20Trading%20and%20Cryptocurrency%20-%20A%20Primer%20for%20Traders.pdf\\n https://papers.ssrn.com/sol3/papers.cfm?abstract_id=132529\\n \\xa0\\n Taylor Monahan Recap of the Case\\n \\n https://twitter.com/tayvano_/status/1532085029857284101\\xa0\\n \\nLearn more about your ad choices. Visit megaphone.fm/adchoices'