{"id":19662,"date":"2022-06-12T11:51:49","date_gmt":"2022-06-12T11:51:49","guid":{"rendered":"http:\/\/egrowonline.com\/?p=19662"},"modified":"2022-06-12T11:51:49","modified_gmt":"2022-06-12T11:51:49","slug":"how-the-feds-are-prosecuting-nft-insider-trading-scheme-as-wire-fraud-and-why-that-matters","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19662","title":{"rendered":"How the Feds Are Prosecuting NFT Insider Trading Scheme as Wire Fraud \u2013 and Why That Matters"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>According to the indictment, Chastain took advantage of the way OpenSea promotes NFTs on its site. Multiple times per week, OpenSea lists \u201cfeatured NFTs\u201d on its homepage. Featured NFTs usually appreciated in price after appearing on the homepage because of the \u201cincrease in publicity and resulting demand.\u201d The Indictment alleges that Chastain knew which NFTs OpenSea would feature on its homepage, because he sometimes, in his role as an OpenSea employee, selected them.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.coindesk.com\/layer2\/2022\/06\/10\/how-the-feds-are-prosecuting-nft-insider-trading-scheme-as-wire-fraud-and-why-that-matters\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the indictment, Chastain took advantage of the way OpenSea promotes NFTs on its site. Multiple times per week, OpenSea lists \u201cfeatured NFTs\u201d on its homepage. Featured NFTs usually appreciated in price after appearing on the homepage because of the \u201cincrease in publicity and resulting demand.\u201d The Indictment alleges that Chastain knew which NFTs [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[1321,3246,7010,5193,307,8950,556,723,8951],"class_list":["post-19662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-feds","tag-fraud","tag-insider","tag-matters","tag-nft","tag-prosecuting","tag-scheme","tag-trading","tag-wire"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/TSYYIXGSBZH7ZPV7N7I7CPKYZU.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19662"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19662\/revisions"}],"predecessor-version":[{"id":19664,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19662\/revisions\/19664"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/19663"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19662"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}