A former Coinbase Global Inc product manager pleaded guilty on Tuesday in what U.S. prosecutors have called the first insider trading case involving cryptocurrency, his defense lawyer said in a court hearing.
As part of a plea deal, prosecutors stipulated that sentencing guidelines called for Ishan Wahi to be imprisoned for between 36 and 47 months. U.S. District Judge Loretta Preska scheduled his sentencing hearing for May 10.
Coinbase is one of the world's largest cryptocurrency exchanges. The company has said it shared its findings from an internal probe into the trading with prosecutors. On Monday, Ishan Wahi asked a judge to dismiss a parallel lawsuit from the Securities and Exchange Commission , saying that charges represent an "abuse of power" by the agency. At issue is whether nine tokens listed on Coinbase were, in fact, securities and subject to SEC regulation.In pleading guilty to the criminal charges on Tuesday, Ishan Wahi said he did not believe any of the relevant tokens were securities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European markets head for positive open but global sentiment remains choppyEuropean markets are heading for a positive open Tuesday, although global sentiment remains mixed.
Read more »
Former Coinbase manager seeks to dismiss watershed insider trading caseLawyers representing a former Coinbase manager and his brother moved to dismiss a Securities and Exchange Commission's insider trading case against them.
Read more »
Pinterest fails to pique Wall Street interest with downbeat forecastImage-sharing platform Pinterest Inc reported lower-than-expected quarterly revenue on Monday joining peers Alphabet Inc and Snap Inc in sounding the alarm on a still-weak ad market.
Read more »
Deceive Inc. Releases Free Demo With Launch Set For Late MarchICYMI: Try out a free demo of DeceiveInc from TripwireInteractive for SteamNextFest before the game comes out next month. indiedev indiegame
Read more »
Former Coinbase manager slams SEC in motion to dismiss insider trading caseTen attorneys from five law firms signed a motion to dismiss an insider trading case brought forward by the SEC against two brothers saying the regulator is “wrong” and has no government authorization.
Read more »
Former Coinbase Manager Pleads Guilty to Insider Trading Charges: ReutersA former Coinbase manager arrested on insider trading charges has changed his 'not guilty' plea to 'guilty' during a Tuesday hearing. iamsandali reports
Read more »