Former Coinbase Employee Charged in Alleged Insider-Trading Scheme

A former Coinbase Global Inc. employee and two other men were charged with wire fraud Thursday in what federal prosecutors called the first insider-trading case involving cryptocurrency markets.

An indictment unsealed in federal court in Manhattan alleged Ishan Wahi, a former product manager at cryptocurrency exchange Coinbase, his brother Nikhil Wahi and friend Sameer Ramani used confidential information to trade on crypto assets that Coinbase planned to list on its platform. The defendants’ illegal profits totaled about $1.5 million, prosecutors alleged.

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