​Former Coinbase Manager and His Brother Agree To Settle SEC I | Crypto Bubble

​Former Coinbase Manager and His Brother Agree To Settle SEC Insider Trading Charges

A former Coinbase manager and his brother have agreed to settle insider trading charges brought by a US regulator.
Ishan Wahi and his brother, Nikhil Wahi, agreed to settle those charges on Tuesday.

The SEC filed a complaint against the brothers in July, alleging that Ishan Wahi helped his brother by tipping him and his friend, Sameer Ramani, about what crypto would be available to trade on Coinbase and thus profited when the value of the crypto went up.

“While the technologies at issue in this case may be new, the conduct is not. We allege that Ishan and Nikhil Wahi, respectively, tipped and traded securities based on material nonpublic information, and that’s insider trading, pure and simple,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement in a statement.