The Dad Dive – June 8, 2022

New finance faces old problems. Insider trading has raised its ugly head in the world of NFTs. Former OpenSea Product Manager Nathaniel Chastain has been charged with insider trading, wire transfers and money laundering. This CBS report says, “Prosecutors allege that Nathaniel Chastain, 31, capitalized on his role as a product manager at OpenSea to buy NFTs before they were widely promoted on the site, later selling them for a profit when other investors bought the digital items. He resigned last September after the New York company discovered his activity, according to a company blog post in 2021.”

This is not an isolated case. On May 21, a Wall Street Journal report said, “Public data suggests that several anonymous crypto investors profited from inside knowledge of when tokens would be listed on exchanges.

“Over six days last August, one crypto wallet amassed a stake of $360,000 worth of Gnosis coins, a token tied to an effort to build blockchain-based prediction markets. On the seventh day, Binance—the world’s largest cryptocurrency exchange by volume—said in a blog post that it would list Gnosis, allowing it to be traded among its users.

“Token listings add both liquidity and a stamp of legitimacy to the token, and often provide a boost to a token’s trading price. The price of Gnosis rose sharply, from around $300 to $410 within an hour. The value of Gnosis traded that day surged to more than seven times its seven-day average.”

Analyst Corner

@Maximus Alerts was on top of his game.

As was @Kenny Alerts

And @Eman Alerts too

Dads Get New Toys

Introducing text chat…but in voice channels. Voice channels now have embedded chat that’s specific to each voice channel. “Peep general,” is a thing of the past. Want to learn more about how they function? Check out this link.

We have also brought in Account Switchers. People with multiple accounts can now easily switch between them without needing to log in and out each time. What are you waiting for? Click on your avatar in the bottom left to get started.

Always Adding Value

Dad Betz Sports Betting Alerts are also a part of the community now. This is a popular feature over in Stock Dads, and we wanted you guys to get it as well.