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Former Coinbase Manager Pleads Guilty to Insider Trading

Former Coinbase product manager Ishan Wahi pleaded guilty to charges Tuesday, centered on an insider trading scheme that generated an alleged ​​$1.1 million in profits.

Wahi pleaded guilty to two counts of conspiracy to commit wire fraud brought against him by prosecutors in the Southern District of New York. Wahi had previously pleaded not guilty to wire fraud charges in August.

The former employee of the San Fransisco-based exchange was accused of sharing information about upcoming token listings with his brother Nikhil and their friend Sameer Ramani. Wahi’s brother pleaded guilty to one count of conspiracy to commit wire fraud in September and later received a 10-month sentence.

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