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Punishment Punishment! Insider NFT Trading sends FBI knocking

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Back in September, The open sea Had to navigate in some fantastic turbulent waters as its products were caught in the main insider trading. As a result, Nate Chastain lost her job and was widely condemned by the community.

At the time, this was considered the end of the story, as Knott humbly disappeared into obscurity. Now, however, things are going to get worse for the previous product manager. As it turns out, he has a real-life reaction to a very real crime. As a result, The FBI formally charged him With wire fraud and money laundering. If convicted, he faces up to 20 years in prison for each offense.

The trial itself will have far-reaching implications for the NFT industry. On the one hand, it gives the NFT sector a degree of legitimacy as a whole. On the other hand, Too bad actors And the suspected ‘influencers’ have committed much worse crimes than Nate. So, these dishonest people will look with fear because they will consider how they can weather the storm.

What the future holds for Nate remains uncertain, but difficult times will definitely feature. The U.S. court system will do its job, and the lawsuit will set a precedent for NFT transactions. Who knows, maybe one of the people pretending to be Nate on Twitter could fall!

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* All investment / financial opinions published by NFT Plaza come from the personal research and experience of our site moderators and are intended as educational material only. Individuals need to do thorough research on any product before making any kind of investment.



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