US Attorney Damian Williams:
Today’s sentence should send a strong signal to all participants in the cryptocurrency markets that the laws decidedly do apply to them.
The Southern District will hold all those involved in insider trading accountable, whether they are in the stock market or the crypto asset market.
Coinbase, a major cryptocurrency exchange in America, has asked its employees with access to confidential information regarding its new crypto assets listings to keep it secret. Ishan Wah broke this trust when he shared confidential information with both his brother and friend.
The prosecutors noted that Coinbase started investigating the case in April 2022 after a tweet mentioned Ramani’s trading based on an tip from Ishan wahi. The tweet was about an Ethereum blockchain wallet “that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published.”
The court documents state that Coinbase had invited Wahi to a meeting in person to discuss its asset listing procedure, but…