Nate Chastain, the former Head of Product for the popular OpenSea NFT marketplace, was convicted by a jury of fraud and money laundering for illegally profiting from his insider knowledge of which NFTs would be featured on the site. The two charges each carry a maximum sentence of twenty years in prison. Chastain was by OpenSea in September 2021 after a Twitter user discovered apparent evidence that he had been engaging in insider trades. He was with money laundering in June 2022.asked to resignarrested and charged Chastain unsuccessfully argued in his defense that information about which NFTs would be prominently featured on OpenSea wasn't insider knowledge, and "nobody told Nate that he couldn't use or share that information". However, prosecutors argued that attempt to use anonymous accounts to make the trades suggested that he knew what he was doing was wrong. This case has been described as the first NFT-related insider trading case, and could set a precedent for other similar charges. , "Ex-OpenSea mana...