Nathaniel Chastain, a former head of product for NFT marketplace OpenSea, was convicted Wednesday following a trial that focused on alleged NFT insider trading.
Chastain was indicted on wire fraud and money laundering charges last June and pleaded not guilty. He was accused in 2021 of using secret crypto wallets to buy up NFTs before being prominently featured on OpenSea's front page.
Previous efforts by Chastain's legal team to dismiss the lawsuit or drop the wire fraud charges were unsuccessful. The jury began deliberating Monday, according to Reuters.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.