Reuters reports that a former Coinbase employee, Ishan Wahi, has been sentenced to two years in prison. Wahi pleaded guilty to insider trading charges.
Wahi was a former product manager at the U.S.-based crypto exchange. He was arrested in July 2022 and charged with wire fraud and insider trading. Wahi fed his brother and another man insider information about upcoming crypto listings.
Wahi, his brother, and another man made made over $1 million trading on Wahi’s information.
Wahi’s brother, Nikhil Wahi, pleaded guilty to conspiracy to commit wire fraud last September, and in January was sentenced to 10 months in prison.