Ex-Coinbase manager’s Brother pleads guilty to Insider Trading 


An ex-Coinbase manager’s brother has plead guilty to an insider trading charge, according to Reuters. The charge is for a wire fraud conspiracy.

Nikhil Wahi, the defendant, spoke in a virtual court hearing before U.S. District Judge Loretta Preska. He is the brother of the former product manager of Coinbase Ishan Wahi. Nikhil Wahi says that he made trades based on confidential Coinbase information.

Prosecutors say that Ishan Wahi shared confidential information with his brother and their friend Sameer Ramani. The information pertains to forthcoming announcements of new digital assets that the site would allow users to trade.

Ishan Wahi has pleaded not guilty to the insider trading charge. Sameer Ramani was also charged. However, he is still at large.

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Source: The Daily Hodl

Coinbase has yet to comment on the ongoing investigation. As more updates on the case release, we will update you here.