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Former OpenSea manager’s insider trading conviction overturned

Nathaniel Chastain, a former OpenSea product manager, had his insider trading conviction overturned on appeal.

OpenSea goes multichain after 98% drop in volume

OpenSea is airdropping a token, relaunching its website, cutting fees, and adding blockchains. Trading volumes, however, are still declining.

OpenSea claims that classifying NFTs as securities would misinterpret the law, jeopardize artists’ livelihoods, and stifle innovation.

OpenSea cautioned that existing keys will expire in October but added that new keys will “have the same permissions and rate limits.”

The OpenSea NFT insider trading conviction may open up the potential for an increase in fraud cases involving business secrets.