According to Nathan Chastain’s legal team, the information he used to profit off NFTs in the marketplace was not considered “protected property.”
In this week’s newsletter, read about why a former OpenSea employee convicted for insider trading is attempting to get an acquittal, get the Polygon co-founder’s thoughts on solving the inscription spam issue on Ethereum Virtual Machine (EVM) blockchains, and check out Interpol’s report on how the metaverse can help law enforcement agencies. And don’t forget this week’s Nifty News, featuring Donald Trump offering free Ordinals to ramp up NFT sales.
Former OpenSea employee Nathan Chastain, who was convicted of wire fraud and money laundering related to insider trading, submitted a filing to the United States Court of Appeals in an attempt to get an acquittal. According to Chastain’s legal team, the information he used to profit off NFTs in the marketplace was not considered “protected property.”
The legal team argued that the information “had no commercial value” and wrote in the appellate brief that “not all confidential information is property.”
