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Former Coinbase manager slams SEC in motion to dismiss insider trading case

Published 02/07/2023, 12:59 AM
Updated 02/07/2023, 02:40 AM
© Reuters

A former product manager at cryptocurrency exchange Coinbase (NASDAQ:COIN) has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.

Lawyers representing ex-Coinbase employee, Ishan Wahi, and his brother, Nikhil Wahi, filed a motion on Feb. 6 in the United States District Court for the Western District of Washington to dismiss charges laid by the Securities and Exchange Commission.

Lawyers for the Wahi brothers argued the tokens allegedly purchased by the pair are akin to physical baseball cards, such as those pictured, which can sell for thousands. Source: Twitter

Lawyers slam SEC for regulatory muscling

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