Former Coinbase executive sentenced to 2 years in prison in an insider trading case in the US.
A lawsuit in which one of Coinbase’s former executives was accused of insider trading has concluded. The judge sentenced the prosecuted executive to two years in prison.
Judge Sentenced to 2 Years in Prison in Former Executive’s Case
Ishan Wahi, a former product manager at Coinbase Global Inc, was sentenced to two years in prison on Tuesday in what US prosecutors call the insider trading case involving cryptocurrency. US District Judge Loretta Preska announced the sentence of 32-year-old Ishan Wahi in Manhattan federal court.
The sentence announced was one of several high-profile cryptocurrency-related lawsuits filed by US prosecutors in New York, including the lawsuit against FTX founder Sam Bankman-Fried, who pleaded not guilty.
Prosecutors accused the former executive of Wahi sharing confidential information with his brother Nikhil and their friend Sameer Ramani about which digital assets will be listed on Coinbase, one of the world’s largest cryptocurrency exchanges.
However, the manager was sentenced to two years in prison after the charges.
