The US prosecutor will no longer reopen the OpenSea insider trading case and has reached a deferred prosecution agreement with former executive Chastain Odaily Planet Daily News: The US Department of Justice will no longer reopen the insider trading case against Nathaniel Chastain, former manager of NFT platform OpenSea. The Manhattan Federal Court received a notice from prosecutors on Wednesday that they have reached a deferred prosecution agreement with Chastain and will withdraw the case in one month. Previously, Chastain was convicted of telecommunications fraud and money laundering in 2023 for using his position to purchase NFTs that were about to be displayed on the OpenSea homepage and selling them for profit after the price increased. However, the federal appeals court overturned the verdict in July this year, stating that the jury had received incorrect instructions and that NFT homepage data had no commercial value and did not meet the definition of property under the federal telecommunications fraud law. Manhattan US Attorney Jay Clayton stated that considering Chastain has already served three months in prison and agreed not to object to the confiscation of 15.98 ETH worth $47330, it has been decided not to reopen the case.