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Former Coinbase Employees Arrested, Company Pushes Back on SEC’s Legal Argument

July 25, 2022

The Securities and Exchange Commission on Thursday announced insider trading charges against former Coinbase employee Ishan Wahi, as well as his brother, Nikhil Wahi, and his friend, Sameer Ramani.

Also on Thursday, the Department of Justice announced the unsealing of an indictment with charges for wire fraud and wire fraud conspiracy against the group. The Wahi brothers were arrested while Ramani remains at large.

They have all been accused of running an insider trading operation. In addition, the SEC’s legal argument, which is a separate issue, has revived an ongoing controversy in the crypto world and prompted criticism from Coinbase on Friday.

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