Former Product Manager at OpenSea Charged with Insider Trading

On Wednesday, United States prosecutors in Manhattan charged Nathaniel Chastain, former head of product at OpenSea, with insider trading. He was arrested in New York. Prosecutors claim that Chastain bought 45 NFTs shortly before they were featured on the OpenSea marketplace homepage. He then sold these pieces for two to five times his initial purchase price. As the product manager, it would have been in his power to choose which NFTs were featured.