Indian origin ex-Coinbase manager pleads guilty in first Crypto insider trading case

A former Coinbase Global Inc product manager pleaded guilty on Tuesday in what U.S. prosecutors have called the first insider trading case involving cryptocurrency, his defence lawyer said in a court hearing.

Ishan Wahi, 32, pleaded guilty to two counts of conspiracy to commit wire fraud, after initially pleading not guilty last year. ALSO READ: ‘Please believe me… Cryptos are nothing but gambling’, RBI guv calls for outright ban

Prosecutors said Wahi shared confidential information with his brother Nikhil and their friend Sameer Ramani about forthcoming announcements of new digital assets that Coinbase would let users trade.