Former OpenSea Manager’s Conviction Tossed in NFT Trading Case
Main Idea
A US Appeals Court overturned the conviction of Nathaniel Chastain, a former OpenSea manager, in an NFT trading case, citing issues with the legal definition of property and excluded evidence about OpenSea's CEO trading tokens.
Key Points
1. Nathaniel Chastain's conviction for using confidential information to buy NFTs was overturned by a US Appeals Court.
2. Prosecutors argued Chastain misused company 'property' by selecting featured NFTs, but the legal definition of property was questioned.
3. Evidence about OpenSea's CEO trading tokens before a partnership announcement was excluded but may have been relevant.
4. The jury was not properly instructed on the legal definition of property, leading to the overturning of the conviction.
Description
The conviction of Nathaniel Chastain , a former product manager at non-fungible token (NFT) platform OpenSea, has been overturned by a US Appeals Court .
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