The U.S. Department of Justice will not reopen the insider trading case against Nathaniel Chastain, a former manager of the NFT platform OpenSea. The Manhattan federal court received notification from prosecutors on Wednesday that a deferred prosecution agreement had been reached with Chastain, and the case will be dropped in one month. Chastain was convicted of wire fraud and money laundering in 2023 for using his position to purchase NFTs that were about to be displayed on the OpenSea homepage and then selling them for profit after the price increased. However, a federal appeals court overturned the verdict in July of this year, finding that the jury had received erroneous instructions and that the NFT homepage data lacked commercial value and did not meet the definition of property under federal wire fraud laws. Manhattan U.S. Attorney Jay Clayton stated that considering Chastain has already served three months in prison and agreed not to object to the forfeiture of 15.98 ETH worth $47,330, the decision was made not to reopen the case. (Cointelegraph)