Ex OpenSea Employee, Disgraced For Insider Trading, Returns To NFTs | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • bitcoin
    Bitcoin(BTC)
    $0.00-1.27%
  • ethereum
    Ethereum(ETH)
    $0.00-2.24%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.08%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.01%
  • binancecoin
    BNB(BNB)
    $0.00-0.81%
  • ripple
    XRP(XRP)
    $0.00-0.64%
  • binance-usd
    Binance USD(BUSD)
    $0.00-0.06%
  • cardano
    Cardano(ADA)
    $0.00-0.65%
  • dogecoin
    Dogecoin(DOGE)
    $0.001.07%
  • matic-network
    Polygon(MATIC)
    $0.00-2.63%
  • okb
    OKB(OKB)
    $0.006.73%
  • solana
    Solana(SOL)
    $0.00-2.29%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.00-2.21%
  • polkadot
    Polkadot(DOT)
    $0.00-2.29%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.000.020%
  • avalanche-2
    Avalanche(AVAX)
    $0.005.87%
  • litecoin
    Litecoin(LTC)
    $0.00-0.62%
  • tron
    TRON(TRX)
    $0.00-1.68%
  • dai
    Dai(DAI)
    $0.00-0.12%
View All
Coinparative
Home NFT News

Ex OpenSea Employee, Disgraced For Insider Trading, Returns To NFTs

April 2, 2022
in NFT News
247 5
A A
0
Ex OpenSea Employee, Disgraced For Insider Trading, Returns To NFTs
Share on FacebookShare on Twitter

Insider trading has always been rampant in financial markets. Anyone caught red-handed will usually step down from their positions. But what would you feel if one of these culprits is back into business?

Today we found out that ex OpenSea exec, Nate Chastain who was disgraced for insider trading is now returning to the NFT space. He is reportedly working on a new NFT platform called Oval.

Ex OpenSea Exec involved in insider trading tries to make a comeback

Back in September 2021, Nate Chastain was OpenSea’s Head of Product. During that time, a Twitter user caught him buying front-page drops before the drops’ listings. He used his position for insider trading and reportedly made 19 ETH or $67,000 in profit. Consequently, OpenSea confirmed the trade scandal and Chastain had to resign from his position.

Now after several months of laying low, Chastain attempts to return to NFTs by launching Oval, a new NFT platform that makes it easier for collectors to search for NFTs.

According to Coindesk, based on the company’s pitch deck in February 2022, Oval is looking to raise $3 million in seed funding. And if funding goes through, Oval will have a pre-money valuation of $30 million. However, an earlier version of the pitch deck shows that the company was trying to raise more. How much was it? A total of $7.5 million at a pre-money valuation of $50 million.

Final thoughts

Given that one of its co-founders was involved in insider trading before, it remains to be seen whether Oval can secure any funding to kickstart its business. If you ask me, insider trading happens wherever the money goes. Early this year, NFT Ethics accused MoonPay’s CEO of insider trading. In fact, the NFT community suspects that there are secret groups of insider traders lurking in a few of the popular NFT projects all this while. Even though this is not something we can control, we can at least choose not to participate in foul play.

Source: NFT Evening

Share196Tweet123Share34Pin44ShareSend

Related Articles

Azuki Twitter Account Was Compromised Leading To Stolen NFTs
NFT News

Azuki Twitter Account Was Compromised Leading To Stolen NFTs

January 28, 2023
1.4k
The Sandbox Hosts WBDD Release Party Event
NFT News

The Sandbox Hosts WBDD Release Party Event

January 28, 2023
1.4k
Yuga Labs Founder Taking Leave of Absence for Health Reasons
NFT News

Yuga Labs Founder Taking Leave of Absence for Health Reasons

January 28, 2023
1.4k
BAYC Founder Stepping Away To Focus On Health | NFT CULTURE | Web3 Culture NFTs & Crypto Art
NFT News

BAYC Founder Stepping Away To Focus On Health | NFT CULTURE | Web3 Culture NFTs & Crypto Art

January 28, 2023
1.4k
YSL Luxury Brand Launching Web3 NFT Campaign | NFT CULTURE | Web3 Culture NFTs & Crypto Art
NFT News

YSL Luxury Brand Launching Web3 NFT Campaign | NFT CULTURE | Web3 Culture NFTs & Crypto Art

January 28, 2023
1.4k
Doodles Collectibles Moving to Flow | NFT CULTURE | Web3 Culture NFTs & Crypto Art
NFT News

Doodles Collectibles Moving to Flow | NFT CULTURE | Web3 Culture NFTs & Crypto Art

January 28, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.