Ex-Coinbase manager pleads guilty in insider trading case

A former Coinbase Global Inc product manager pleaded guilty in what US prosecutors have called the first insider trading case involving cryptocurrency, his defense 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.

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.