Former OpenSea product manager sentenced to 3 months in prison and fined $50,000 for insider trading

ChainCatcher news, according to an announcement from the U.S. Department of Justice, former OpenSea product manager Nathaniel Chastain has been sentenced to three months in prison, fined $50,000, and ordered to forfeit illegally obtained Ethereum. Additionally, according to the U.S. Department of Justice, Nathaniel Chastain will face another three months of home confinement and three years of supervised release after serving his sentence.

Previous news, in May of this year, Nathaniel Chastain was convicted of fraud and money laundering on Wednesday local time, for using insider information about which assets would be displayed on his homepage to trade NFTs, illegally profiting over $50,000.