Former OpenSea Executive Sentenced to 3 Months in Prison for NFT Insider Trading
Nate Chastain, the former head of product at OpenSea, has been sentenced to three months in prison for insider trading. Chastain made over $50,000 by buying and selling NFTs he knew would be featured on OpenSea's homepage, using anonymous wallets and accounts to conceal his purchases. The lenient sentence was attributed to Chastain's modest earnings from the trades. He will also face three months of home confinement and three years of supervised release after his prison term.