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May 26 - A 6.9-magnitude earthquake struck the Antofagasta Region in northern Chile on May 25, according to the National Seismological Center of the University of Chile. No casualties or damage have been reported so far. The earthquake occurred at 5:52 p.m. local time on May 25 (5:52 a.m. Beijing time on May 26), with its epicenter located 20 kilometers northeast of Calama, Antofagasta Region, at a depth of 114 kilometers. The Chilean Navys Hydrographic and Oceanographic Service tsunami warning department stated that the earthquake would not trigger a tsunami. Chile is located in the Pacific Ring of Fire, a region prone to earthquakes.On May 26th, it was reported that Meituan and SF Express have opened over 1,400 low-altitude air routes, achieving routine operation of drone logistics and gradually becoming profitable. Meanwhile, large-payload, long-range cargo drones independently developed by central state-owned enterprises, such as the Changying-8 and HH-200, have completed their maiden flights, and a preliminary "trunk-branch-terminal" low-altitude logistics network led by drones is emerging. When will large-scale commercialization of low-altitude logistics be realized? At the recent 2026 World Drone Conference, attendees believed that as the fastest-developing scenario in the low-altitude economy, low-altitude logistics is transitioning from routine operation to commercial profitability, and is expected to experience explosive growth in the next two to three years.U.S. stock index futures rose, with Nasdaq futures up 1.3%, S&P 500 futures up 0.9%, and Dow Jones futures up 0.87%.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.5 occurred near northern Chile (23.13 degrees south latitude, 69.52 degrees west longitude) at 05:52 on May 26. The final result is subject to the official rapid report.The European-Mediterranean Seismological Centre reports that a 6.1-magnitude earthquake struck Antofagasta, Chile, at a depth of 111 kilometers.

U.S. charges ex-Coinbase manager in first crypto insider trading case

Jimmy Khan

Jul 22, 2022 15:11

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U.S. authorities said on Thursday that a former product manager at bitcoin exchange Coinbase Global and two other people have been charged with wire fraud in connection with an insider trading conspiracy.


In the first insider trading case involving cryptocurrencies, a former product manager at Coinbase Global and two other individuals have been charged with wire fraud, according to US authorities in Manhattan on Thursday.


The bitcoin exchange's product manager Ishan Wahi and his brother Nikhil Wahi were taken into custody on Thursday in Seattle.


They are also accused of comparable US Securities and Exchange Commission civil violations together with a third defendant, their buddy Sameer Ramani. Ramani is untraceable.


Ishan Wahi, 32, is "innocent of any crime and wants to firmly defend himself," according to a statement from his attorneys. Requests for feedback from Nikhil Wahi's legal counsel were not immediately fulfilled. A lawyer representing Ramani was not immediately available to Reuters.


Ishan Wahi, according to the prosecution, divulged secret information on upcoming announcements of new digital assets that Coinbase will let customers to trade on its platform.


They said that after being called in for a meeting by a Coinbase security director, Ishan Wahi purchased a one-way ticket to India. According to authorities, law enforcement prevented him from boarding the aircraft on May 16.


Ishan Wahi's bail was set at $1 million and he was told to turn in his passports during his first court appearance in Seattle federal court. Despite his apparent effort to elude capture, the prosecution did not request that he be held. On August 2, he will make his next court appearance in Manhattan.


Nikhil Wahi, 26, and Ramani, 33, are accused of buying and selling at least 25 crypto assets for a profit in the associated civil accusations, nine of which the SEC claims it has recognized as securities.


The SEC refused to comment on whether it would take legal action against Coinbase for listing the coins described in the complaint as securities, stating only that its investigation was still underway.


Prosecutors claim that Wahi and Ramani bought the assets using ethereum blockchain wallets and traded at least 14 times before Coinbase made its disclosures in June 2021 and April 2022, making at least $1.5 million in illegal profits.


Whether it happens on Wall Street or the blockchain, fraud is fraud, according to U.S. Attorney for Manhattan Damian Williams.


The business disclosed information from the internal investigation into the transaction with authorities, according to Philip Martin, chief security officer at Coinbase.


Martin said on Twitter, "We are dedicated to doing our share to guarantee that all market participants have access to the same information.


Coinbase admitted in a blog post that Ishan, Nikhil Wahi, and Ramani had all been charged individually by the SEC with securities fraud, but pointed out that federal prosecutors had not brought such a complaint.


The blog post said that "no assets posted on our site are securities, and the SEC allegations are a regrettable diversion from today's appropriate law enforcement action."


Federal prosecutors in Manhattan accused a former product manager with insider trading last month in what they said was the first such case involving digital assets. OpenSea is the biggest online marketplace for non-fungible tokens.

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