OpenSea Investigating Exec Over Potential Trading Scandal - The Street Crypto: Bitcoin and cryptocurrency news, advice, analysis and more
OpenSea, the largest NFT marketplace on the planet, is conducting an investigation into its Head of Product after users accused him of using insider information to trade and profit off of NFTs.
The controversy erupted Tuesday night when Twitter user ZuWuTV posted evidence that OpenSea Head of Product Nate Chastain was buying NFTs shortly before they were featured on the marketplace's webs site. The evidence alleges Chastain would then sell the NFTs after they were featured prominently on OpenSea, driving up the price.
Wednesday morning, OpenSea acknowledged the apparent activity and said they were investigating.
"Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly," the statement read. "This is incredibly disappointing. We want …
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