Ex-OpenSea Employee’s NFT Handling Runs into DOJ’s ‘Stradivarius’

Bloomberg Law: Ex-OpenSea Employee’s NFT Handling Runs into DOJ’s ‘Stradivarius’

October 31, 2022

United States
United States
United States

Eversheds Sutherland Counsel Andrea Gordon is quoted in this Bloomberg Law article discussing the US Department of Justice’s (DOJ) recent wire fraud charges against ex-OpenSea employee Nathaniel Chastain, who allegedly bought and sold nonfungible tokens (NFTs) on the OpenSea app with secret information. 

The DOJ, which has taken an increased focus on digital assets under the Biden administration, can crack down on conduct that might fall outside the SEC’s reach. The Chastain case will likely be a model for prosecutors in similar cases.

“The decision opens up the possibility for future digital asset ‘insider trading’ actions without actually having to address that heavily debated question of whether a digital asset is a security,” Andrea said. “They don’t even have to go into that.

The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Services

Key contacts

andreagordon@eversheds-sutherland.com

Andrea L. Gordon

Partner

Washington, DC, United States

Latest Insights

Latest News

Latest Events

EU-flags-at-the-European-Commission-Berlaymont-building-cropped

guides and reports

October 23, 2026

EU: Empowering Consumers for the Green Transition Directive

An abstract image of a building

legal updates

October 21, 2026

Construction Projects in the GCC

Electricity transmission pylons across rural landscape energy infrastructure power lines

legal updates

October 21, 2026

Navigating energy storage globally

Modern office building glass facade exterior

legal updates

October 21, 2026

Commercially Connected - October 2026

© Eversheds Sutherland 2026. All rights reserved. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Eversheds Sutherland (Germany) Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB is a partnership with limited professional liability (Partnerschaftsgesellschaft mit beschränkter Berufshaftung) under German law, with its registered seat in Munich, registered with the partnership register of the Munich District Court under PR 1947 and having its business address at Brienner Straße 12, 80333 München, Germany. Eversheds Sutherland (Germany) Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB is part of a global legal practice consisting of separate and distinct legal entities that operate under the name Eversheds Sutherland and provide legal or other services to clients around the world. Each Eversheds Sutherland entity is a separate legal entity and is not responsible for the acts or omissions of, nor can bind or obligate, another Eversheds Sutherland entity. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global entity. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.