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“Such behavior is improper for a government agency, and is irreconcilable with due process concerns,” it argued in its brief. “The SEC’s motive, then, is merely to backdoor a precedent that can be used in other cases, as, indeed, it is already doing in other cases where the DOJ has
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The SEC’s Wahi case could be redundant, in part because “they’ve already been indicted by the DOJ,” Boring said. Still, in “no way, shape or form,” is the trade association “trying to downplay the seriousness of insider trading” she said. Source
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The United States Securities and Exchange Commission (SEC) has again been accused of overstepping its authority and unfairly labeling crypto assets as securities, this time in its insider trading case against ex-Coinbase employees.In an amicus brief filing on Feb. 22, the U.S.-based Chamber of Digital Commerce argued the case should be
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Polaris Ventures, a charity created by former FTX and Alameda chief of staff Ruairi Donnelly, reportedly wants to access roughly $150 million earned from insider trading on the bankrupt exchange’s tokens.According to a Feb. 14 Wall Street Journal report, Donnelly received roughly $562,000 in salary during his time at FTX,
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The crypto lobbying group is arguing that the SEC is engaging in “absentee enforcement” and that the creators of the nine tokens, that are at the centre of the insider trading case, are not linked to the case. Source
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Ishan Wahi, a former product manager at Coinbase Global Inc., has admitted to two counts of conspiracy to commit wire fraud in a case that U.S. prosecutors have labeled as the first insider trading case involving cryptocurrency.Ex-Coinbase manager pleads guilty in insider trading case https://t.co/i6fG3c3wHc pic.twitter.com/zKfjqnNpzT— Reuters (@Reuters) February 7,
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Wahi had previously pleaded not guilty to federal charges of insider trading. Original Source
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In January, the brother of a former Coinbase product manager was sentenced to 10 months in prison for wire fraud conspiracy in what prosecutors called the first case of insider trading involving cryptocurrencies. In September 2022, Nikhil Wahi entered a guilty plea for executing trades based on private data obtained
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A former product manager at cryptocurrency exchange Coinbase has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.Lawyers representing ex-Coinbase employee, Ishan Wahi, and his brother, Nikhil Wahi, filed a motion on Feb. 6 in the United States District
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Insider trading has become a burning topic in the crypto ecosystem, especially in light of the recent conviction of an ex-Coinbase manager’s brother. The insider trading charges were believed to be the first involving cryptocurrency, and now another set of wallet addresses with transaction history linked to Binance listings has
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