thantik comments on Reddit mods dumped tokens hours before blockchain program termination

this post was submitted on 20 Oct 2023

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Reddit mods dumped tokens hours before blockchain program termination (cointelegraph.com)

submitted 2 years ago by Number1SummerJam@lemmy.world to c/reddit@lemmy.world

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[–] thantik@lemmy.world 53 points 2 years ago (1 child)

The federal securities laws do not exempt crypto asset securities from the prohibition against insider trading, nor does the SEC.

Found here: https://www.sec.gov/news/press-release/2023-98

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[–] resin85@lemmy.ca 13 points 2 years ago

Yup. Anyone who received this non-public information and then traded based on that information is guilty of insider trading. I would also think that reddit has some liability here, as they shared this information to non-employees.

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