2026-01-23 05:48:01

The latest decision by the US prosecutors: they will no longer re-try the insider trading case against former OpenSea executive Nathaniel Chastain. In July last year, the federal appeals court overturned his charges of wire fraud and money laundering. Now, both parties have reached a final deferred prosecution agreement—one month later, the case will be officially dismissed.

The prosecutors' reasoning for this compromise is understandable. Chastain has already served 3 months in prison and now agrees to forfeit the illegal proceeds of $159,800 obtained from alleged NFT insider trading. From this perspective, the main goal of the case has been achieved. This outcome also offers some insight for the entire NFT market—initially, this case was a hot topic in the crypto community, involving platform executives using insider information for trading, which sparked discussions about market fairness and regulation.

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0xTherapist

· 12h ago

Serving three months in prison can clear your record; the NFT circle really is the most lenient place in the law. --- Another delayed indictment agreement, such a slick move. --- Damn, losing over a hundred thousand dollars, is that worse than going to jail? --- Platform executives can't escape accountability; this time I finally see some hope. --- Is this how regulation works? It feels like the fundamental issues haven't been addressed. --- If I had known it would be this easy to compromise, what was the community even discussing back then? --- Getting away without a real prison sentence for insider trading is considered a win? Crypto really exists in a different dimension.

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GasFeeCrybaby

· 12h ago

Haha, the big fool finally got away unscathed after all Only 3 months and he's out? LOL The prosecution's compromise excuse is really top-notch, just pay some money and it's over Insider trading is still happening, it's just a fine system Can't help but feel that having a team of lawyers is awesome

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WalletWhisperer

· 12h ago

Ha, another unfinished script, is that all? Wait... this guy just sat for 3 months and walked away unscathed? So the real cost of insider trading being caught is like this, I’ve learned The most ironic part of this case is that no one is discussing it now. Everyone has shifted their attention elsewhere It seems the prosecution also thinks there’s no hope, so they simply step back and let it go $159,800 for a lesson, a huge profit for him The hype around NFTs has passed, and this matter has also gone quiet. Interesting It feels like similar incidents will happen again in the future, not much different

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FomoAnxiety

· 13h ago

This is just outrageous. Free-riding for a few months and then walking away unscathed? Getting out after three months in jail and paying some money, is that all? If it were an ordinary retail investor, they'd die in prison. No one really cares about insider trading, huh? Ha, executives are just executives. Isn't this obviously telling big players that they don't have to be afraid even if they go in? I’ve forgotten about the NFT days, and no one is holding anyone accountable anymore, right?

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