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Former Coinbase Employee Sentenced to Two Years in Prison for Insider Trading

A former product manager at Coinbase, Ishan Wahi, has been sentenced to two years in prison after pleading guilty to insider trading charges. Wahi was arrested in July 2022 and charged with wire fraud and insider trading for providing insider information about upcoming crypto listings to his brother and another man. The men made over $1 million trading on Wahi's information from June 2021 to April 2022. This is the second crypto-related insider trading case brought by the Department of Justice, with the first involving the former head of product at non-fungible token platform OpenSea. Nate Chastain was convicted of money laundering and wire fraud and faces a maximum sentence of 40 years.

Wahi’s lawyers requested Wahi be sentenced to no more than 10 months in prison,  like his brother’s sentence. The two year sentence is considerably lower, however, than the 60 year maximum sentence he faced.

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