Former Coinbase Employee Sentenced for Insider Trading Scheme Involving Cryptocurrencies

Former Coinbase product manager Ishan Wahi was sentenced to two years in prison for sharing confidential information about which digital assets would be listed on Coinbase, allowing his brother and friend to make $1.5 million in trades.
Wahi pleaded guilty to conspiracy to commit wire fraud charges in February.
Wahi's brother was also sentenced to 10 months in prison and ordered to pay nearly $900,000 for his role in the scheme.
The case marks the first insider trading case involving cryptocurrencies.
The SEC has filed a lawsuit against Wahi and his brother over their illegal trades.