As the battle between the crypto industry and Gary Gensler's Securities and Exchange Commission escalates, the embattled sector has poured its hopes for victory into an unexpected ally: Ishan Wahi, a former employee of the crypto exchange Coinbase who pled guilty last month in what prosecutors described as the first cryptocurrency insider trading case.
Wahi admitted to sharing confidential information from his employer with his brother and friend to net more than $1.5 million, and crypto companies' motivations do not include clearing his name of his two counts of wire fraud.
