The insider trading case of the former product head of OpenSea will be tried on April 24
ChainCatcher news, court documents show that the trial date for former OpenSea product head Nathaniel Chastain has been set for April 24, where he will face charges. When the case goes to trial, Chastain will face charges of wire fraud and money laundering.In a memorandum submitted yesterday, U.S. District Judge Jesse M. Furman stated, "The argument in the Chastain case regarding the use of the term 'insider trading' is of no practical significance." The court may also hear directly from Chastain to explain how he believes his actions affected his former employer.Previously, Chastain was accused of secretly purchasing NFTs using confidential information from OpenSea and selling them for illegal profits. The U.S. Department of Justice stated that the case against Chastain is the first involving insider trading related to digital assets. However, his lawyers argue that since the relevant assets are neither defined as securities nor as commodities, they do not meet the definition of insider trading. (source link)