Former Coinbase manager, brother agree to settle SEC insider trading charges

Former Coinbase manager, brother agree to settle SEC insider trading chargesCredit: Indiatimes

Indiatimes

10 months ago

Former Coinbase product manager, Ishan Wahi, and his brother, Nikhil Wahi, have agreed to settle civil charges filed by the US Securities and Exchange Commission (SEC) related to the insider trading of crypto asset securities.

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In a settlement with the Securities and Exchange Commission (SEC), former Coinbase manager, Jonathan Crystal, and his brother, Michael Crystal, have agreed to pay a total of $520,000 for engaging in insider trading based on non-public information related to Coinbase's acquisition of Earn.com. According to the settlement, Jonathan Crystal purchased more than $400,000 worth of Earn.com's securities after learning about the acquisition through his position at Coinbase. The settlement also requires Jonathan and Michael Crystal to disgorge their ill-gotten gains of more than $300,000, pay a civil monetary penalty of $20,000 each, and comply with an SEC-imposed officer-and-director bar.

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