Did the Conviction of Former OpenSea Exec Violate Insider Trading Laws?

Ex-OpenSea Executive Appeals Conviction in NFT Insider Trading Case

Nathaniel Chastain, the ex-OpenSea executive who was convicted last May of fraud and money laundering, has filed an appeal to overturn his conviction. Chastain was found guilty of using insider information to profit from trading NFTs. He had bought NFT collections that he then prominently featured on OpenSea’s homepage, causing them to sell out, after which he sold the NFTs for a profit. Chastain’s appeal argues that the information he used was not the property of OpenSea, and therefore, his actions did not constitute fraud.