No, and he's not being charged with "insider trading" (because it doesn't exist for art / collectibles). Typically any item that hits the OpenSea front page has already been listed (usually days or weeks later). The listing of the most popular NFTs occurs when their custom smart contract goes live on-chain, and is usually accompanied with a custom "mint" website. OpenSea automatically lists any ERC721 that gets created (although will sometimes manually de-list projects for copyright violations or other issues).
He definitely took advantage of privileged information. He definitely should have been fired and fined. But these are not securities. NFT art drops do not have "earnings calls" and quarterly reports or anything of the sort.
He was front running the boost in sales activity that occurs when a project gets featured on the front page of OpenSea.io. That's the extent of it.
He definitely took advantage of privileged information. He definitely should have been fired and fined. But these are not securities. NFT art drops do not have "earnings calls" and quarterly reports or anything of the sort.
He was front running the boost in sales activity that occurs when a project gets featured on the front page of OpenSea.io. That's the extent of it.