Coinbase manager pleads guilty to insider trading on tokens
A former Coinbase Global manager admitted participating in a scheme to trade on confidential information about when the exchange was going to list new tokens.
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A former Coinbase Global manager admitted participating in a scheme to trade on confidential information about when the exchange was going to list new tokens.
The case was part of a crackdown on an old-school financial crime in the crypto world.
Ishan Wahi had formerly pleaded "not guilty," but changed his tune on Tuesday. The former Coinbase employee faces multiple years in prison.
"I wanted to help my parents, but instead I put them through great suffering," Wahi said during the sentencing, adding, "I'm very sorry for what I did."
The brother of a former Coinbase product manager was sentenced to 10 months in prison on Tuesday in what federal prosecutors have called the first insider trading case involving cryptocurrency.