HomeAltcoinThe SEC accuses a former Coinbase exec of insider trading.

The SEC accuses a former Coinbase exec of insider trading.


The Securities and Exchange Commission (SEC) accused a former Coinbase (NASDAQ:COIN) executive and two colleagues with insider trading on Thursday.

Former Coinbase product manager Ishan Wahi, his brother, and a buddy have all been charged. The trio allegedly transacted ahead of many announcements of crypto assets that would be accessible for trade on the Coinbase platform.

The SEC claims that while working at Coinbase, Ishan Wahi assisted in the coordination of public listing announcements, including which crypto assets or tokens would be made accessible for trading on the platform – information that was considered secret at the time.

According to the SEC, Ishan frequently conveyed the schedule and content of anticipated listing announcements to his brother, Nikhil Wahi, and his friend, Sameer Ramani, from June 2021 through at least April 2022.

The announcements frequently resulted in a considerable rise in the part’s price. According to the SEC, the three reportedly purchased at least 25 cryptoassets, at least nine of which were securities, and then sold them for a profit shortly after the announcements, earning more than $1.1 million.

“Defendants have collectively earned more than $1.1 million in illegal profits in nearly a year by engaging in alleged insider trading that repeatedly used material, nonpublic information to trade prior to Coinbase listing announcements,”

said Carolyn Welshhans, acting head of the Enforcement Division’s Crypto Assets and Cyber Unit.


Leave a Reply


According to a survey, one-third of singles in the Metaverse are ready to date.

According to data from a new Dating.com poll, the metaverse can help accelerate dating into the future, particularly as avatars become more reflective of individuals. Online...

Does it seem plausible that Ethereum and Cardano will have “catastrophic implosions like Terra Luna”?

Michael Saylor, the chairman of the Microstrategy board and owner of 130,000 Bitcoin on the balance sheet of his business, thinks Ethereum is just as...

BNB protection for Binance listing? CZ responds to claims about a delisted project

  While many were unconcerned about the delisting because to its inactivity, others questioned the emphasis on price for delisting, fearing that it would encourage projects...

Sam Bankman-Fried faces eight accusers and a possible sentence of more than 100 years in jail.

Sam Bankman-Fried, the fired CEO of the insolvent cryptocurrency platform FTX, is in even more difficulty now after this week's arrest in the Bahamas. In fact,...

Follow us


Most Popular

%d bloggers like this: