Former product manager at Coinbase Global Ishan Wahi and his brother Nikhil Wahi were arrested on Thursday in Seattle
Their friend Sameer Ramani, the third defendant, is also facing related US Securities and Exchange Commission civil charges. Ramani is still at large. Lawyers for Ishan Wahi, 32, said in a statement that he is “innocent of all wrongdoing and intends to vigorously defend himself.” Nikhil Wahi’s lawyer did not immediately respond to requests for comment. Reuters was unable to locate a lawyer for Ramani right away. According to prosecutors, Ishan Wahi shared confidential information about upcoming announcements of new cryptocurrency assets that Coinbase would allow users to trade through its exchange.