Ex-NFT Marketplace Employee Charged with Insider Trading (1)

A former employee of OpenSea, the world’s largest NFT marketplace, was charged with insider trading in the first-ever such case involving digital assets, US prosecutors said.

Nathaniel Chastain, 31, a former product manager at OpenSea was arrested Wednesday by the FBI on wire-fraud and money-laundering charges, according to Damian Williams, the U.S. Attorney for the Southern District of New York.

NFTs, or non-fungible tokens, are unique digital assets that are often highly sought by collectors. Investors and speculators are buying everything from pictures of digital apes to cute penguins and trading cards. Prices of NFTs can fluctuate wildly in ...