“Today’s sentence should serve as a warning to other corporate insiders that insider trading—in any marketplace—will not be tolerated.”
– Southern District of New York Attorney Damian Williams, on former
OpenSea executive Nathanial Chastain’s sentencing of three years probation, the forfeiture of his ill-gotten gains, and a hefty fine as the
first person convicted for digital asset insider trading. During the 2021 crypto boom, Chastain bought NFTs scheduled to be featured on OpenSea—and sold them for 200-500% profit when they were.
