Partners John Carney and Teresa Goody Guillén and Associate Veronica Reynolds (joined by Partners Michelle Tanney and Joanna Wasick, as contributors) have written an analysis for Law360 about the conviction of former OpenSea manager Nathanial Chastain on money laundering and wire fraud charges
Published July 17, 2023, the analysis is titled “OpenSea Verdict Backs DOJ Digital Asset Insider Trading View.” The non-fungible token marketplace executive had attempted “to conceal the use of confidential business information for personal gain,” the authors write.
They also note that this outcome has broad implications, as it “confirms, for the first time, that insider trading activity involving digital assets may be prosecuted under the traditional fraud statutes.”