DOJ, SEC Charge Former Coinbase Product Manager With Insider Trading

A former Coinbase product manager and two others together ran a year-long, insider-trading scheme that generated more than $1.1 million in profits, U.S. federal authorities today alleged.

Ishan Wahi, while an employee at the San Francisco-based cryptocurrency exchange, allegedly provided information regarding upcoming asset listing announcements to his brother Nikhil Wahi, and his friend, Sameer Ramani.

The Department of Justice announced today that all three individuals have been arrested and charged with “wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets by using confidential Coinbase information.” The SEC also announced today that it filed civil charges against the trio over the alleged scheme.

This story is developing and will be updated.

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