Did ex-Coinbase product manager commit wire fraud?

An ex-Coinbase product manager was charged Thursday, along with two other individuals, with wire fraud in connection with an alleged insider trading scheme involving cryptocurrencies. The case is the first of its kind.

Is Coinbase a 'first insider trading case' involving cryptocurrency?

REUTERS/Dado Ruvic/Illustration/ Acquire Licensing Rights NEW YORK, Feb 7 (Reuters) - A former Coinbase Global Inc (COIN.O) product manager pleaded guilty on Tuesday in what U.S. prosecutors have called the first insider trading case involving cryptocurrency, his defense lawyer said in a court hearing.

What is the Coinbase scam & why is it a big deal?

The case is the first of its kind. U.S. prosecutors accused the individuals of plotting to profit from the listing of new tokens on the Coinbase platform before they were announced publicly. In a separate complaint filed Thursday, the SEC said that nine of the 25 tokens allegedly traded in the scheme were securities.

When is Coinbase sentencing?

U.S. District Judge Loretta Preska scheduled his sentencing hearing for May 10. Coinbase is one of the world's largest cryptocurrency exchanges. The company has said it shared its findings from an internal probe into the trading with prosecutors.