### A former employee of Coinbase who was accused of engaging in illegal insider trading and pleaded guilty to the allegations received a jail sentence of two years. Ishan Wahi, who had previously worked as a product manager for Coinbase, was taken into custody in July 2022 and charged with both insider trading and wire fraud in connection with the case.

The case revolved around Wahi allegedly sharing confidential information about upcoming cryptocurrency listings with his brother, Nikhil Wahi, and another individual. The information provided gave the recipients an unfair advantage in trading, allowing them to profit from insider knowledge.



Nikhil Wahi, the brother of Ishan Wahi, was previously charged with conspiracy to conduct wire fraud. In September of last year, he pleaded guilty to the charges and was sentenced to 10 months in prison.



This is not the first instance of the Department of Justice (DOJ) cracking down on insider trading involving cryptocurrencies. It highlights the growing concern over the potential for market manipulation and fraudulent activities within the crypto space.



The prosecution and subsequent sentencing of both individuals serve as a strong message from authorities that illegal activities, such as insider trading, will not be tolerated in the cryptocurrency industry. It reinforces the importance of fair and transparent practices within the market to protect investors and maintain trust in the evolving world of digital assets.

A former employee of Coinbase who was accused of engaging in illegal insider trading and pleaded guilty to the allegations received a jail sentence of two years. Ishan Wahi, who had previously worked as a product manager for Coinbase, was taken into custody in July 2022 and charged with both insider trading and wire fraud in connection with the case.

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Sat May 27 2023 From Coinbase To Cellblock: Ex-Manager Faces 2-Year Sentence For Insider Trading

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

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Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Sat May 27 2023

From Coinbase To Cellblock: Ex-Manager Faces 2-Year Sentence For Insider Trading