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Coinbase ex-manager sentenced to 2 years in prison in US insider trading case

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NEW YORK : Ishan Wahi, a former Coinbase Global Inc product manager, was sentenced on Tuesday to two years in prison in what U.S. prosecutors have called the first insider trading case involving cryptocurrency.U.S. District Judge Loretta Preska sentenced Ishan Wahi, 32, in Manhattan federal court after th

NEW YORK : Ishan Wahi, a former Coinbase Global Inc product manager, was sentenced on Tuesday to two years in prison in what U.S. prosecutors have called the first insider trading case involving cryptocurrency.

Prosecutors have said Wahi shared confidential information with his brother Nikhil and their friend Sameer Ramani about which digital assets would be listed on Coinbase, one of the world's largest cryptocurrency exchanges. Nikhil Wahi pleaded guilty in September to a wire fraud conspiracy charge, and in January was sentenced to 10 months in prison. Ramani remains at large.

Prosecutors had called for Ishan Wahi to spend more than three years in prison to deter other cryptocurrency insiders from misusing corporate information.

 

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