Ex-Coinbase manager gets two years in prison in crypto insider trading case
By 
Aaron Nicodemus2023-05-11T15:41:00
A former Coinbase product manager was sentenced to two years in federal prison for his role in a crypto insider trading scheme.
Ishan Wahi was sentenced Tuesday by Judge Loretta Preska in U.S. District Court for the Southern District of New York, according to a Department of Justice (DOJ) press release. He was also ordered to forfeit crypto assets he received in connection with the scheme, prosecutors said.
The DOJ previously said the case was its first enforcement of insider trading on crypto assets.
Related articles
-
News BriefCCO among 12 individuals charged in DOJ, SEC insider trading sweep
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
-
News BriefCoinbase facing SEC enforcement over potential securities violations
Coinbase said it was served a Wells Notice by the Securities and Exchange Commission for potential violations of securities law regarding multiple of its cryptocurrency products.
-
News BriefEx-Coinbase manager pleads guilty in landmark crypto insider trading case
Ishan Wahi, a former Coinbase product manager, pleaded guilty to wire fraud conspiracy in the first cryptocurrency insider trading case.
More from Regulatory Enforcement
-
News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
-
ArticleSenate Democrats question Vought on comments about closing CFPB in months
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
-
PremiumAssessing the impact of the DOJ’s monitorship policy six months in
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.