Page 16 - Sameer Ramani News Today : Breaking News, Live Updates & Top Stories | Vimarsana

“Today’s sentence makes clear that the cryptocurrency markets are not lawless,” one prosecutor on the case said.

The brother of a former Coinbase product manager has been sentenced to 10 months in prison in what federal prosecutors have called the first insider trading case involving cryptocurrency. Twenty-seven-year-old Nikhil Wahi, of Seattle, was sentenced in federal court in Manhattan on Tuesday after pleading guilty in September to one count of conspiracy to commit wire fraud. Prosecutors said that Nikhil Wahi began in around October 2020 to receive confidential tips from his brother, Ishan Wahi — then a product manager for Coinbase Global Inc., one of the world’s largest cryptocurrency exchange...

Nikhil Wahi pleaded guilty in September to initiating trades based on confidential information obtained from his brother, Ishan Wahi, who was a former Coinbase product manager.

Coinbase, one of the world's top cryptocurrency trading platforms, announced Tuesday it will be laying off more than 900 workers in the face of slowing global interest in digital currencies.

NEW YORK (Reuters) - The brother of a former Coinbase Global Inc product manager was sentenced on Tuesday to 10 months in prison after pleading guilty in September to a wire fraud conspiracy charge, in what U.S. prosecutors have called the first insider trading case involving cryptocurrency.