Former Coinbase product manager arrested on insider trading charges

A former product manager at Coinbase, Ishan Wahi, was arrested Thursday on charges of wire fraud in connection to an inside trading scheme, according to a statement from the United States Attorney for the Southern District of New York.

Wahi, who worked within the assets listing team, repeatedly tipped his brother Nikhil Wahi and friend Sameer Ramani — who also both face the same charges — about new coins that were slated to be listed on Coinbase, the statement said.

The two profited at least $1.5 million in illegal trades from 25 different crypto assets and at least 14 separate Coinbase public listings, law enforcement officials said.

The two brothers were both arrested in Seattle, but Ramani remains at large.

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