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Jesse Powell
@jespow
This isn't just about NFTs. It's about every transaction: houses, cars, art, watches, shoes, comic books, any collectible, store of value or investment. Forget DYOR, inspections, appraisals. If you don't have 100% info overlap, trading is illegal. Impossible standard, bad policy.
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e𝚔𝚒n
@eking0x
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“This isn’t being brought as an insider trading case, it’s a wire fraud case. Yet the government misleadingly describes this as insider trading because they know that buzzword will generate headlines,” @JWVerret tells me in this @motherboard @VICE piece: vice.com/en/article/ake
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Jesse Powell
@jespow
I guess the objection is that Nate knew that the asset was scheduled to be featured before he bought, and before the ad was public. But how were other traders disadvantaged by this? Nate had no material info about the asset itself, just that it was going to get extra attention.
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Mira Hurley
@mira_hurley
That's a really interesting business idea. Did they end up doing it and how did it work out? I guess Hindenburg shorting Nikola and then releasing info about them would be similar as well.
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Jesse Powell
@jespow
Replying to
@mira_hurley
Yeah, agreed. I don’t think he ever actually did it.Sounds like this might actually be about a crime against his employer though. Gotta check out the indictment and this interview.
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Matt Galligan
@mg
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Replying to @jespow
@nlw had a good explanation the other day on the Breakdown. The suit alleges he defrauded his company, not the market. pca.st/episode/b81a24
10:12 AM · Jun 5, 2022Twitter for iPhone
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