NFT Insider trading is a bigger issue than most people realize, and chances are that it'll only get worse.
This weekend a group of traders swept the Cryptopunk floor hours before Yuga Labs made an announcement about the future of Punks. This wasn't the first time we've seen people making NFT trades based on insider info, and in fact it wasn't even the first time we've seen it happen with a Yuga Labs collection.
In this video I talk about the growing issues around insider trading, the difficulty in proving these cases and whether or not it's illegal in the first place.
0:00 sweeping the Punks floor (coincidence?)
2:23 insider trading is EVERYWHERE
3:56 proving the crime
4:50 is it even illegal?
6:06 good luck trying to catch this
7:12 the court of public opinion
This weekend a group of traders swept the Cryptopunk floor hours before Yuga Labs made an announcement about the future of Punks. This wasn't the first time we've seen people making NFT trades based on insider info, and in fact it wasn't even the first time we've seen it happen with a Yuga Labs collection.
In this video I talk about the growing issues around insider trading, the difficulty in proving these cases and whether or not it's illegal in the first place.
0:00 sweeping the Punks floor (coincidence?)
2:23 insider trading is EVERYWHERE
3:56 proving the crime
4:50 is it even illegal?
6:06 good luck trying to catch this
7:12 the court of public opinion
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Francisco Gimeno - BC Analyst The NFT place has been always an open field for those who want to do insider trade. There have been some cases in the past, and due to lack of regulations this will continue happening. Now that even NFTs are being questioned, happenings like insider trading cause more damage. That is why the digital economy need a new kind of regulation which, while protecting customers, users and investors and new developments, will be clear on what is not allowed, and what will be prosecuted. Interesting podcast.