Brother of former Coinbase employee pleads guilty to charges related to insider trading: Report By Cointelegraph

Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges.

According to a Monday report from Reuters, Wahi admitted to authorities during a virtual hearing that he used confidential information obtained from Coinbase (NASDAQ:) to make profits from trading crypto. Wahi’s brother Ishan worked as a product manager at Coinbase, during which time he allegedly shared information regarding the launch dates of tokens with his brother and an associate, Sameer Ramani. The trio allegedly used the insider information to make roughly $1.5 million in gains from trading 25 different cryptocurrencies between 2021 and 2022.