Ishan Wahi, 32, a former product manager at cryptocurrency platform Coinbase Global, along with his brother Nikhil Wahi, 26, have pleaded not guilty to federal charges of insider trading, the media reported.
The lawyer representing Ishan Wahi said that the charges against him should be "dismissed" as insider trading needs to involve securities or commodities and this case did not, according to reports.
Last month, the US authorities charged the brothers and their Indian-American friend Sameer Ramani, 33, of Houston with wire fraud conspiracy by using confidential information from crypto exchange Coinbase and made $1.5 million in illicit money.
The Wahi brothers were arrested in Seattle, Washington State, where they were living, and presented in the US District Court for the Western District of Washington.
Ramani remains at large. Ishan, Nikhil and Ramani stare at a maximum sentence of 20 years each.
Ishan worked at Coinbase as a product manager assigned to a Coinbase asset listing...
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