Sameer Ramani News

Wahi was arrested as he was boarding a one-way flight to India and was found to be carrying “three large suitcases, seven electronic devices, two passports, multiple other forms of identification, hundreds of dollars in US currency, financial documents, and other personal effects.His brother, Ishan Wahi worked as a product manager assigned to a Coinbase asset listing team and, between August 2021 and May 2022, was a member of a private messaging channel reserved for a small number of employees with direct involvement in the asset listing process.The private channel was used to discuss, among other things, “exact announcement / launch dates + timelines” that Coinbase did not wish to share with all of its employees.According to prosecutors, on at least 14 occasions Wahi passed on this confidential information to either his brother or friend, Sameer Ramani. The three would then use anonymous Ethereum blockchain wallets to acquire crypto shortly before Coinbase publicly announced that it was listing or considering listing these assets on its exchanges.

In a landmark decision, a U.S. court has determined that the trading of certain cryptocurrency assets on secondary markets, including platforms such as Coinbase, are securities transactions.

A former Coinbase manager and his brother have agreed to settle insider trading charges brought by a US regulator.

In a recent hearing in the United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Ishan Wahi to two years in prison for his involvement in an insider trading scheme that had rocked the cryptocurrency industry. Wahi had worked as a product manager at Coinbase and was accused of using confidential information to profit off new token listings.

A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison.

The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading.

Ishan Wahi, a former product manager at Coinbase Global Inc., has admitted to two counts of conspiracy to commit wire fraud in a case that U.S. prosecutors have labeled as the first insider trading case involving cryptocurrency.

A former product manager at cryptocurrency exchange Coinbase has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.

The brother of a former Coinbase product manager, Nikhil Wahi, has been sentenced to 10 months in prison for wire fraud conspiracy charges, in what is believed to be the first insider trading case involving cryptocurrency. 

A 26-year-old Indian citizen has pleaded guilty in the first-ever cryptocurrency insider trading case in the US, in which he along with his brother and their Indian-American friend made ill-gotten profits totalling over a million dollars.

Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges.

In what is described as the first insider trading case related to crypto in the US, a former product manager at major exchange Coinbaseand his brother have pleaded not guilty to wire fraud charges. 

Coinbase ex-manager pleads not guilty to insider trading charges

Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi is accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was arrested in May as he attempted to board a flight to India and was charged in July.

U.S. Securities and Exchange Commission (SEC) is investigating whether Coinbase Global Inc improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on Monday. A Coinbase spokesperson told Reuters the company does not list securities on its platform, while the regulator declined to comment on the report. The company's legal head Paul Grewal said Coinbase will engage with the SEC on the matter. «We are confident that our rigorous diligence process — a process the SEC has already reviewed — keeps securities off our platform,» Grewal said.

Coinbase has previously asked the SEC to develop rules that work for digital asset securities.

Major cryptocurrencies traded in the green early on July 23 as the global crypto market cap increased 1.13 percent to $1.04 trillion over the last day. The total crypto market volume declined 6.90 percent to $71.56 billion over the last 24 hours.

US authorities have charged on July 21 two Indian brothers and their Indian-American friend in the first global case of cryptocurrency insider trading that enabled them to make $1.5 million in ill-gotten gains.

The US Securities and Exchange Commission (SEC) on Thursday listed nine cryptocurrencies that it considers as securities. The regulator named the nine crypto assets in its first insider-trading case, where it said the nine digital tokens are “securities”.

US charges ex-Coinbase manager in first crypto insider trading case

Caroline Pham, one of five commissioners with the United States Commodity Futures Trading Commission, or CFTC, has expressed concerns about the possible implications of a case the Securities and Exchange Commission, or SEC, brought against a former product manager at Coinbase.