Skadden Discusses Digital Asset Insider Trading Case
On February 7, 2023, Ishan Wahi (Ishan), a former Coinbase product manager, pled guilty to wire fraud charges in an indictment in the U.S. District Court for the Southern District of New York (SDNY).
Ishan admitted that he had used material nonpublic information from his employer to tip his brother and a friend to purchase a variety of digital assets prior to announcements by Coinbase that the assets would be listed on the company’s platform.
Ishan’s brother previously pled guilty to one count of conspiracy to commit wire fraud.
Notably, the day before the former product manager’s guilty plea and … Read more