NFT Insider Trading Trial Results in Conviction of Former OpenSea Product Head

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Last Updated on May 4, 2023 by Bitfinsider

Nathaniel Chastain, the former director of product for the NFT marketplace OpenSea, was found guilty on Wednesday after a trial centred on allegations of NFT insider trading.

Chastain pleaded not guilty to allegations of wire fraud and money laundering in June of last year. Before being prominently featured on OpenSea’s homepage, he was accused in 2021 of using covert crypto wallets to acquire NFTs.

Prior attempts by Chastain’s legal team to have the lawsuit dismissed or the wire fraud charges dropped were unsuccessful.

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