小蓝视频色情网页版

A former product manager at an NFT marketplace has been charged with wire fraud and money laundering in the first insider trading case involving non-fungible tokens.

Nathaniel Chastain, a former employee of , is accused of using confidential information about which NFTs were going to be featured on OpenSea鈥檚 homepage to secretly buy the digital assets and then sell them for 2x to 5x the original price,

鈥淎s part of his employment, Chastain was responsible for selecting NFTs to be featured on OpenSea鈥檚 homepage,鈥� the press release said. 鈥淥penSea kept confidential the identity of featured NFTs until they appeared on its homepage. After an NFT was featured on OpenSea鈥檚 homepage, the price buyers were willing to pay for that NFT, and for other NFTs made by the same NFT creator, typically increased substantially.鈥�

Chastain is accused of using anonymous digital currency wallets and anonymous accounts on OpenSea to buy and sell the NFTs, according to the statement from the U.S. Attorney鈥檚 Office. Chastain was arrested on Wednesday.

NFT market

NFTs exploded in popularity last year around the time Bitcoin was reaching new highs and there was increased interest in digital assets. VCs were quick to pour money into the arena, with more than $2.6 billion invested in the space over the past year or so, according to a 小蓝视频色情网页版 analysis in March.

OpenSea is one of the most high-profile NFT marketplaces. and are among its backers. The company last raised a $300 million Series C co-led by and in January. The Series C brought OpenSea鈥檚 valuation to around $13.3 billion, according to 小蓝视频色情网页版.

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