Coinbase Stock

Coinbase has won $470,000 restitution in a crypto insider trading case. 
According to a New York District Court <a href="https://www.courtlistener.com/docket/63889431/87/united-states-v-wahi/?ref=blockhead.co" rel="noopener noreferrer nofollow">filing</a> on 6 April 2023, Nikhil Wahi has been ordered to start making restitution payments whilst in prison.
Nikhil Wahi is the brother of former Coinbase product manager Ishan Wahi. Ishan Wahi had worked on Coinbase's asset-listing team and had advanced knowledge of the timings and public announcements of assets the exchange planned to list. 
He also had access to a private messaging channel used to discuss launch dates and timelines.
Wahi was accused of tipping off his brother Nikhil Wahi and friend Sameer Ramani with confidential information, leading to profits of US$1.5 million.
The case is recognised as the first crypto insider trading case.
Read more: <a href="https://cointelegraph.com/news/coinbase-wins-470k-restitution-in-insider-trading-case?ref=blockhead.co" rel="noopener noreferrer nofollow">Ex-Coinbase Manager Pleads Guilty to "First" Crypto Insider Trading Case</a>
In September, Wahi pleaded guilty to two counts of conspiracy to commit wire fraud in a case that has been labelled as the first insider trading case involving cryptocurrencies.
“I knew that Sameer Ramani and Nikhil Wahi would use that information to make trading decisions,” Ishan Wahi admitted during a court hearing on Feb 7.
“It was wrong to misappropriate and disseminate Coinbase’s property,” he added.
Read more:<a href="https://www.blockhead.co/2022/07/22/coinbase-shows-insider-trading-is-too-tempting-in-cryptos-wild-west/" rel="noopener noreferrer nofollow"> Coinbase Shows Insider Trading is Too Tempting in Crypto’s Wild West</a>
Nikhil's restitution must be paid in full within 20 years of his release from prison. The amount represents how much Coinbase spent o legal fees relating to the Department of Justice’s investigation.
The world of Web3 can be quite a whirlwind. Whether it’s crypto news in Singapore, South East Asia or even across the globe, we understand how busy the industry is keeping you, so we kindly send out three newsletters each week:
<ul>
 <li><a href="https://blockhead.co/tag/blockbeat?ref=blockhead" rel="noopener noreferrer nofollow">BlockBeat</a> for a wrap-up of the week’s digital assets news</li>
 <li><a href="https://blockhead.co/tag/blockhead-brief?ref=blockhead" rel="noopener noreferrer nofollow">Blockhead Brief</a> for weekend happenings as well as what to look forward to in the week ahead</li>
 <li><a href="https://www.blockhead.co/tag/business-bulletin/" rel="noopener noreferrer nofollow">Business Bulletin</a> for macroeconomic updates and industry developments.</li>
</ul>
To avoid FOMO

Coinbase Wins Restitution in Crypto Insider Trading Case

Blockhead

2023年4月12日公開の他の記事

AUSSIE DIGITAL - LISTING ON AZBIT AND TIDEX EXCHANGE

US Annual Inflation Drops to 5% in March: CPI Print

G-7 to prioritize assisting developing nations introduce CBDCs

2 days ahead of Ethereum’s Shapella upgrade; What to expect?

Coinbase Plans to Add Two New Altcoins to Its Listing Roadmap in 2023

Ethereum Shanghai Set For Roll Out, Crypto Daily TV 12/4/2023

ニュースレターを購読して暗号資産の最新情報を毎日入手！