First Guilty Plea in Coinbase-Related Insider Trading Charges

The brother of a former Coinbase product manager, Nikhil Wahi, in late July was arrested for trading on confidential information.

AccessTimeIconSep 12, 2022 at 5:48 p.m. UTC
Updated May 11, 2023 at 4:22 p.m. UTC

Nikhil Wahi pled guilty in U.S. District Court to a wire fraud conspiracy charge, Reuters reported Monday.

Wahi is the brother of former Coinbase (COIN) product manager Ishan Wahi. The Wahi brothers were arrested in late July, charged by the Department of Justice (DOJ) with wire fraud and insider trading – allegedly profiting from information shared by Ishan Wahi regarding least 14 different listings at Coinbase. A friend, Sameer Ramani, was similarly charged but remains at large.

Nikhil Wahi's brother Ishan pleaded not guilty.

Prosecutors have previously declared this matter to be the first-ever crypto-related insider trading case.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.