Key Points:
Ishan Wahi, the former product manager of cryptocurrency exchange Coinbase (COIN), has requested a sentence of no more than 10 months in prison for insider trading, his lawyer said in court filings late last night Tuesday.
The 10-month prison sentence is a “commensurate but not excessive” punishment. It is known that the court will hold Wahi’s sentencing hearing on May 9. Tuesday’s filing cites Wahi’s considerable public attention and previous humble, law-abiding, and admirable life as well as mental health status, as reasons for leniency.
As a result of the case’s widespread media coverage, Coinbase itself intervened in a similar action filed by the Securities and Exchange Commission, claiming that the digital assets listed on the It’s not technically a stock.
On February 7, in a case heard by Judge Loretta Preska in the Southern District of New York, Wahi pled guilty to two charges of conspiring to conduct fraud by disclosing information about upcoming Coinbase crypto token listings to his brother Nikhil and another contact, Sameer Ramani.
A plea agreement signed by Ishan Wahi and the US government in February suggested a sentence of three to four years in prison, with a fine in the range of $15,000-150,000. In January, Nikhil Wahi was sentenced to 10 months in prison for his role in the incident.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Foxy
Coincu News
In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…
MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…
Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…
Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…
The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…
UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…
This website uses cookies.