A former product manager at Coinbase Global, Ishan Wahi, and two others were charged Thursday in Manhattan with wire fraud in the first insider trading case involving cryptocurrency.
In a statement, lawyers for Ishan Wahi, 32, said he is "innocent of all wrongdoing and intends to defend himself vigorously." A lawyer for Nikhil Wahi did not immediately respond to requests for comment. Reuters could not immediately identify a lawyer for Ramani.
Ishan Wahi allegedly shared confidential information about forthcoming announcements of new cryptocurrency assets that Coinbase would allow users to tradeThey also said Ishan Wahi may have intended to flee, having bought a one-way plane ticket to India after he was called to the Coinbase office in Seattle for a meeting by the company's security director.He was kept off that flight by law enforcement on May 16.
Ishan Wahi's bail was set at $1 million, and he was ordered to surrender his passports. Prosecutors did not demand that he be detained despite his alleged attempt to flee. His next federal court appearance is on Aug. 2 in Manhattan.
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