Appeals Court Overturns Nate Chastain's Conviction in OpenSea Insider Trading Case

Second Circuit Overturns Conviction in OpenSea Crypto Insider Suit - USA Herald

In a dramatic turn for the crypto world, the Second Circuit on Thursday overturned the fraud conviction of Nathaniel Chastain, a former OpenSea manager once accused of pioneering “insider trading” in NFTs. The appellate panel ruled that jurors may have convicted him for conduct deemed unethical but not necessarily fraudulent. Chastain, who allegedly pocketed $57,000 OpenSea Crypto Insider suit sees fraud conviction overturned in landmark Second C

U.S. Court Overturns Conviction In OpenSea Insider Trading Case - FinanceFeeds

A U.S. federal appeals court has thrown out the conviction of Nathaniel Chastain, the former OpenSea product manager found guilty last year of wire fraud and money laundering for trading NFTs using insider information. The Second Circuit Court of Appeals ruled Thursday that the jury in Chastain’s 2023 trial was improperly instructed. According to the court, jurors may have convicted Chastain for acting unethically, rather than for misappropriati…

Former OpenSea manager wins appeal in NFT insider trading case after ...

U.S. court overturns NFT insider trading conviction of former OpenSea exec

The post U.S. court overturns NFT insider trading conviction of former OpenSea exec appeared on BitcoinEthereumNews.com. A U.S. federal court has reversed the insider trading conviction of Nathaniel Chastain, the former product manager at OpenSea, following a decision Thursday by the 2nd U.S. Circuit Court of Appeals in Manhattan. The court said Chastain’s guilty verdict for wire fraud and money laundering was built on flawed instructions given …

OpenSea Ex-Manager’s Conviction Tossed in NFT Trading Case

The conviction of Nathaniel Chastain, a former product manager at non-fungible token (NFT) platform OpenSea, has been overturned by a US Appeals Court.