US appeals court overturns ex-OpenSea product manager's NFT insider trading conviction
ReutersJul 31, 2025 1:55 PM
NEW YORK, July 31 (Reuters) - A federal appeals court on Thursday overturned the wire fraud and money laundering conviction of a former product manager at OpenSea, the world's largest marketplace for non-fungible tokens, in what prosecutors called the first insider trading case involving digital assets.
The 2nd U.S. Circuit Court of Appeals in Manhattan agreed with Nathaniel Chastain that his conviction was tainted by jury instructions that could have let jurors convict him of fraud for acting unethically, even he did not invade a traditional property interest belonging to OpenSea.
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