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<p>A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison.Ishan Wahi must surrender by June 21 to serve his sentence at the Fort Dix Federal Correctional Institution in New Jersey</p>
<h2 style="text-align: center;" id="insider-trading-conviction">Insider Trading Conviction</h2>
<p>An ex-Coinbase product <a href="https://walletinvestor.com/magazinadmin/ex-coinbase-manager-pleads-guilty-in-insider-trading-case/">manager</a> has been sentenced to two years in prison after being found guilty of insider trading. The individual used confidential information about upcoming cryptocurrency listings to make illegal profits.</p>
<h2 style="text-align: center;" id="illegal-profits">Illegal Profits</h2>
<p>The former employee had access to key information about new cryptocurrencies being listed on the Coinbase platform. They used this knowledge to buy the cryptocurrencies before the listings and sold them for a profit once the news became public, causing prices to rise.</p>
<h2 style="text-align: center;" id="court-8217-s-decision">Court&#8217;s Decision</h2>
<p>The court found the ex-Coinbase product manager guilty of insider trading and sentenced them to two years in prison. Additionally, they were ordered to pay a penalty to cover the illegal profits they made from the trades.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">🚨 BREAKING: FORMER <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@COINBASE</a> PRODUCT MANAGER ISHAN WAHI SENTENCED TO TWO YEARS IN PRISON IN WHAT U.S. PROSECUTORS HAVE CALLED THE FIRST INSIDER TRADING CASE INVOLVING <a href="https://twitter.com/hashtag/CRYPTOCURRENCY?src=hash&amp;ref_src=twsrc%5Etfw">#CRYPTOCURRENCY</a> <a href="https://t.co/chxFezES3m">pic.twitter.com/chxFezES3m</a></p>
<p>&mdash; Blockchain Daily (@blckchaindaily) <a href="https://twitter.com/blckchaindaily/status/1655967736340553728?ref_src=twsrc%5Etfw">May 9, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="coinbase-8217-s-response">Coinbase&#8217;s Response</h2>
<p>Coinbase expressed disappointment in the actions of their former employee and is committed to preventing similar incidents in the future. The company plans to strengthen its internal controls and work closely with regulators to ensure a fair and transparent market.</p>
<h2 style="text-align: center;" id="implications-for-crypto-industry">Implications for Crypto Industry</h2>
<p>The case highlights the importance of strict compliance with regulations in the cryptocurrency industry. It serves as a reminder for companies operating in the space to implement robust internal controls and educate employees about the legal consequences of insider trading.</p>

Ex-Coinbase Product Manager Sentenced to 2 Years in Prison for Insider Trading

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