A 32-year-old former product manager at Coinbase has admitted to gaming the cryptocurrency market and pleaded guilty to two counts of conspiracy to commit wire fraud, the first-ever example of an insider admitting guilt in an insider trading case involving cryptocurrencies, according to the Justice Department.
“Whether it occurs in the equity markets or the crypto markets, stealing confidential business information for your own personal profit or the profit of others is a serious federal crime,” U.S. Attorney Damian Williams said in a statement.
