Description
The SEC sues former Coinbase product manager, his brother, and his friend for missapropriating insider information in order to profit from buying tokens before they are listed on Coinbase.
Legal Significance
Example of insider trading in web3. Further, the District Court of Washington allowed disgorgement to be paid to the U.S. Treasury due to the 'secretive and anonymous nature of the relevant cryptocurrency ecosystems,' which made identifying specific investors infeasible.
Issues
Status
Settled
Case No.
2:22-cv-01009
Date Filed
July 21, 2022
Plaintiff
SEC
Defendant
Ishan WahiNikhil WahiSameer Ramani
Court
USDC Western District of Washington Seattle Division
Plaintiff Counsel
Peter LallasDaniel J. Maher
Defendant Counsel
Greenberg Traurig LLPJones DayAllen Hansen Maybrown & Offenbecher PSChaudhryLaw PLLC
Major Filings
Related Developments
SEC v. Wahi (Coinbase Insider Trading)
SEC v. Wahi (Coinbase Insider Trading)
Settled
USA v. Chastain (OpenSea Insider Trading)
USA v. Chastain (OpenSea Insider Trading)
Appeal
Valenti v. Dfinity USA Research LLC (Dfinity Class Action)
Valenti v. Dfinity USA Research LLC (Dfinity Class Action)
Motion to Dismiss