No Crime Committed in OpenSea, NFT Insider Trading Case: Former SEC Attorney Comments

In the summer of 2022, NFT (non-fungible token) platform OpenSea saw a former employee charged with pursuing a digital asset insider trading ploy. The former Product Manager was arrested and charged with wire fraud and money laundering. As outlined by the US Department of Justice, the defendant utilized insider information to benefit financially. Effectively, the individual in question knew which NFTs were to be featured in advance and thus purchased them before the promotion. The