Exposing Insider Trading at OpenSea
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- Опубликовано: 10 фев 2025
- JPEG flipping but it's illegal.
OpenSea head of product Nate Chastain, was recently accused insider trading, and appears to no longer be working for the company. His Twitter bio now includes the phrase “Past: @opensea.” - VERGE
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch.
You mean a sizable portion of these NFT guys might be con artists?
No way….. who could’ve seen this coming………
I believed the whole NFT thing to be insider trading from the jump. This house of cards is going to come painfully crashing....
No that doesn't sound right. They just want to contribute to the community and help me make money, right?
...Right?
NFT's...Tokens... take your pick. It's crazy to think that the ACTUAL crypto market would be without the rampant scammery that has happened in such a short time. This isn't the attention that the crypto space needs. Maybe it will help set standards though...trying to be optimistic...
@Drew P. Nutsack lol atleast most of us will die in peace. 💀
How obvious does it have to be before it is no longer actually a con and just a fool tax?
Coffee is slowly becoming crypto's SEC, the dude just lacked courts, prison, and agents to arrest these lowlifes 😂
If U mean he calls people frauds when they aren't, then yes he is
Nah he is good 95% of the time, but he has made some wrong calls
@@intergalacticdegengypsy6135 are you Techlead's alt account?
@@intergalacticdegengypsy6135 elaborate or don’t make the claim
Just like the SEC, anything coffeezilla doesn't understand he calls a scam. He presents bad actors as a representation of everybody who's in that industry and that space instead of narrowing it down
>Spend $1,000,000 on something literally useless
"I got scammed!"
You did. Yes. You did do that.
Explain
@@Imokay304 There's nothing useful on an NFT past the promise of more money later. And since it's a zero sum game, you're either losing money or selling your NFT to someone who will lose money later. Because the system doesn't print dollars, every dollar you earn is a dollar someone else lost.
@@ekki1993 nope. It's not a 0 sum game. You're missing the profit margins and operating costs. On average you loose.
You need a solid gold microphone covered in diamonds to turn that 10 million dollar studio into an 11 million dollar studio. You’re just too damn good at this.
Let's not stoop to a ghetto or rainbow culture.
@@MindvisionMediaHD what the fuck are you on maximus
It’s just a green screen. This dudes in a basement somewhere
No, he really bought a 10 million studio! What do u mean, basement?
@@MindvisionMediaHD what do you mean by that, also where were you on Jan 6
It's almost as if a market that no one understands and is unregulated is open to fraud.
True but there’s plenty of fraud in the physical art world.
@@mattdecker8724 true but who the fuck respects the art industry.
@@goldenknife3835 lol, the wealthiest people in the world, no one important
@@nickynada-btc Fareal lol. This is how rich people give gifts a lot of the times. They use art.
Well it is like the age old saying. " if it walks like a duck, and it talks like a duck, it must be an orange." - Sun Tzu
update: Nate has just been arrested and charged with insider trading!!! 🎉
No I havent
@@everythingponybro
He was convicted and ordered to pay a $50,000 fine, refund the scammed Etherium, and serve 3 months in jail. He will also serve 3 years essentially on probation.
Insider trading should be legal making it illegal disrupts financial markets and makes company valuations less accurate
@@gabriealdrue bruh
Coffeezilla doing a job that thousands at the SEC can’t seem too
Probably because NFT's aren't securities?
@Michael Payne that goes against everything crypto sets out to be
All the evidence would be baseless in court. To prove those shell wallets belong to him would take some serious resources if its even possible. These claims are assumptions no matter how obvious
@@ceologreen does it matter if the shell accounts aren't his? He's still sending the money to them, and those wallets on every occasion seem to always buy nfts that are about to be listed on the front page. And he then profits from those wallets.
@@SpoilerAlert__ That's irrelevant
SEC: "We're here to protect consumers from financial exploitation in the securities market."
Public: "What about all those politicians profiting from insider stock trading?"
SEC: "That's not something we're really concerned with since congress determines our annual budget."
MAN!
Pelosi does have one hell of a portfolio lol
It's not really that the SEC won't target Congress because they sign their budget...My understanding is that there is a congressional law that allows Congress to make "insider trades" as long as they disclosure it to a committee. I forget which committee it is, it might be the Rules Committees. I forget, but this law I know is a load of BS.
@@jbird4478 - I forgot about the STOCK act, I honestly don't think any President would ever "invoke" this act, and pursue charges as it would look like a power grab due to the whole concept of "Separation of Powers." With that being said, I believe the only power that would actually do anything is the Ethic's committee, and even then they essentially write their own rules.
i found out about your channel from the save the kids scam and honestly you have become one of my favorite channels to watch. keep it up 🕵🏽♂️
Same
Yeah, I've been watching him since 20K, it's crazy how he has grown, he deserve it.
Same here.
same im a faze newbie hehee
Newbies. I've been watching since he was only Coffee Break and wasn't even Coffeezilla yet.
But welcome to the fam.
The WallStreetBets comparison is so damn on point! Well said Coffee, as always.
Everything is transparent due to Blockchain, They get caught easily everytime. 🤣🤣
Idk bout easily but it can be tracked yes
I am new to blockchain so please do not insult me lol but how is blockchain safe when people are always caught ? They say you can stay anonymous but how is everyone getting caught ?
One word, "hubris".
@@prodbytytaan influencers are idiots, criminals aren’t gonna get caught up like this haha
Unless you use a mixer
So basically the laundering part he did was useless and did nothing except confirm that he knew he was doing something wrong
It did make it slightly harder to find.
I trade inside everyday but still lose half my portfolio… should I try trading outside in nature instead?
Go wild
Affirmative chad
No dad...
Only trade one quarter of it and then you won’t lose half.
try a different room
Coffeezilla isn't the hero we deserved, but that we definitely need. The fact that you manage to make a seemingly dry subject from the outside seem interesting and digestable at the same time is really appreciated.
At this time you just need to be the director of the SEC
"What do you think you're doing?! You're trying to actually do your job?! You're supposed to take bribes you stupid piece of shit! YOU'RE FIRED!"
Insider trading is a part of being a congressman/congresswoman
The Speaker of the House is required to profit off insider trading on a monthly basis or impeachment proceedings will begin.
Don’t forget the federal reserve too
@@jakedenault3355 Excellent point!
.....and political party affiliation doesn't matter their all equally corrupt. We're screwed!
Or their spouses get super lucky with investments. It's probably the blessing of the legislative branch.
Corruption and politicians have always been bed fellows, no matter the country.
CZ!!! This guy is being charged by DOJ! Love what you do man.
I love how any video of Coffee’s I watch runs investment scam ads.
Scams?! The ad told me I could have my own flying Lambo in 3 days...
@@frankieb9444 Woahhhhhh I like so need that in my life.
I didn't even get an ad 😕
And Spencer’s vids too
I love block monster new ga.e
The man went through so much effort to use different wallets, but used the same account to onramp every trade.... how do you get so high up in the crypto space without understanding that thats not gonna work lol
Yup..Why manually obfuscate just to bring it back to the main wallet? So fucking dumb. Deserved to get caught on so many levels lol...Pure idiocy.
Well I mean, it did. He got fired, but most likely will keep his ill gotten gains.
@@daniellarsson3453 work as in not get caught lol
@@daniellarsson3453 With $500 million I wouldn't be sweating getting fired it. Well worth it in his mind, I'm sure. There will be no legal ramifications and he can retire wherever he wants now.
@@orionthehunter217 I believe it was 500k that he had on his main account.
@Coffeezilla
You take being an internet detective to a WHOLE new level!🧔🏽🎧☕️📽💰
This dude is basically gambling on a football game but he knows the final score beforehand, sounds like fun to me
While watching Family Guy tonight, I finally got the 221C Baker Street reference.
Well played, sir.
It's no longer about "paper trails". Now it's all about "digital footprint/trail".
My dude please never go away. We need you.
Coffee you are the hero the world needs!🥺
The three musketeers. I’ve learned so much from those three guys.
Honestly, someone who could stop financial corruption (from tax evasion and kleptocracy to insider trading and currency manipulation), would actually save more lives than someone with super strength. That is if someone like coffeezilla could immediately strip their assets and jail them.
@pewd ipie it’s not free to stop crime mans got bills to pay. So if me watching his vids gets him paid then so be it.🤷🏾♀️
@pewd ipie And if he stops people from gettin scammed in the process then hey, he’s a hero and he’s gettin paid to do a job and there’s nothin wrong with that. Again the man’s gotta eat.
@pewd ipie It’s not hit fault. The problem is, even if someone doesn’t want a cult like following, most people are sheep and naturally tend toward worshipping anyone who they consume content from. Why do you think the whole country is celebrity obsessed.
Imagine what damage Nate did to the brand of opensea. I already knew this nonsense was going on with people doing wash sales to boost stuff, but this is a whole new level of scummy.
No one cares. He still is insider trading with no end in sight
I love that Nigerian meme you used at 9:45. You are awesome Coffeezilla
Im heavily involved in DeFi ... let me do a favor to yall and just recommend that you not buy NFTs at this point in time. Their value is pure speculation and then shit like this. But people also don't understand what an NFT actually gets them which is not much. People think there can only be one of a particular piece of art as an NFT but that's not the case. And the worst thing is that a lot of these NFTs are on proprietary platforms where, if that platform goes down, you no longer have anything because you can only interact or view "your" art on their platform.
I've made (small) money with NFTs and the Crypto stock market. Never lost, always gained.
Golden rule: *Never trade trash.*
Only trade what has some kind of real-world usefulness.
A fucking jpeg tied to a Blockchain is FOMO garbage.
Investing in art is always speculation, but with physical art at least one gets something to put on one’s wall. But with digital art, what if the data format of the art becomes obsolete? Or the storage device is no longer accessible (ie, usb)? Sure, a painting can be destroyed as well, but good luck accessing your nft certified art on a floppy disk
Bingo!
Sorry, too much common sense bro. I know how NFTs can be used to monetize art, but most these platforms are still stuck in their bigger-fool-schemes and too lazy/greedy to actually implement the technology in a way that’s beneficial to all involved. I guess this is how we will own nothing and be happy. 🙁
I got into crypto at the same time I found this channel…this channel has been the more wild ride of the 2.
I stay subscribed with notifications on in hopes that I finally see the day when coffee gets hit by the monitor.
I appreciate the Studio C poker table clip! ☺️
Also, great content. Keep up the good work.
No one on Wall Street bets cries about insider trading. We just want the memo too.
Because what Wall Street bets traders are doing is not insider trading. Insider trading is when an executive or employee also known as an "insider," of a company trades the stock of their company, as an employee. Wall Street bets traders are not insiders, they're not employees of the companies they trade therefore their trades aren't considered insider trading.
Please keep exposing the scammers! Well done👍🏾
This is literally the only channel that I love to come back to and watch full videos. Keep up the good work.
NFTs are like the modern day equivalent of the South Sea bubble.
That's a stretch, I get what you mean but they have next to nothing to do with shares. A better example would be Tulip Mania
beanie babies 2.0
@@Mithorium It's not that NFTs are beanie babies. It's that some NFTs are beanie babies in themselves. NFTs improve digital art and gaming assets. It solved a problem so is here to stay.
@@overman2306 it isn't a solved problem and it has not improved either thing.
@@overman2306 art's always was and always will be a tool of money laundering. They technology is behind NFT is cool just like BTC. But what we are doing with these technologies is just crazy.
Nate Chastain left such a string of clues that it almost seems like he wanted to get caught and was surprised no one caught on until now
We need another Tether video, it is out of control.
There's legal action coming up against them. I think that's why Coffee is staying quiet about it.
The key difference between insider trading and simply having the skill to follow/predict the market is if they’re desperate to hide that it’s happening
since 2 days ago whenever i hear nft im reminded of the dm i got on discord basically saying i need to invest in their nft because they need 1 more person to go public and he killed his brother so his brother that he created it with cant help
Uhhhhhhhhh what did he actually kill him??
@@Beardwhip idk i just assumed it was some bot with a weird automated message
@@Rukusoru Scammers love to F with people and tell them stupid shit. If someone says they need another investor because they murdered their brother, ask them if they have tried asking their brother's ghost if he's interested, because you heard ghosts love to invest, they just need an intermediary to help them.
@@orionthehunter217 yeah, then turn it around and offer your skills as a medium to them.
cool story, bro
The fact people started figuring him out and he still kept doing it is really insane to me
Seeing ( paw paw) osita iheme's meme slapping that cash made this way more enjoyable. Good one
I'm lovin the daily uploads from coffee but I kinda want some more long form videos, cause they're so entertaining
Again, yours is by far the best-presented account of this debacle.
Nice one!
I had a feeling this would be what was happening, that and a speculative bubble, but I’m impressed to see someone actually charged over it.
I think the biggest scam in this whole thing is that any of what was bought and sold is considered “art”
Especially since they aren't buying the art in most cases, but a link to the art.
Art is subjective
Art is trash that you call money laundering
@@deepdays9068 maybe art is subjective, but there’s art, and there’s ai generated monkeys. Don’t tell me there’s no difference between the statue of David and a “Meta Girlfriend”
@@fart63 however, the one thing they do have in common is that they'll be used to evade taxes
@@fart63 Art is defined as something created that facilitates an emotional response, laughing at the shitty monkeys in an emotional response, ergo it's art, just not good art.
Yet another banger video Mr Zilla!
@@lic.josechavez8837 It would be yet, another banger video indeed!🤣🤣 Yea I'm a bit of a fan boy lol!
I appreciate that since it was OpenSea, you made the laundering chart into a fish.
I still don’t understand how can a JPEG be certain “ether” that each is supposed to be thousands of dollars then apparently is being sold. Like how did that even happen?!
So excite when a knew Zilla comes out. Pumpin that stock bro
Wow you really have become a blockchain detective, I love it
My guy, you have jumped from being some random RUclips channel to my most watched channel.
You my friend are doing as they say, the Lord's work.
Over the past 2 months Coffeezilla has quickly become one of my favorite RUclipsrs . Keep up the good work ❤️
As an AML analyst, I love to get a real idiot assigned to me. It makes that case just so much easier.
Analyze deez nutz
you're not that special
wtf is AML?
@Beaverish Buck Teeth I don’t? He’s talking about money laundering and that’s literally my job. I was agreeing with coffee that this guy made it obvious.
@@GenericInternetter Anti-Money Laundering (analyst)
Anyone with a college degree can do this 35k a year job
Just love the clip of the ‘SEC and the SCAMMERS’ 😀😀😀
I miss the day where stealing was at least brave where some big dude breaks your teeth and takes your shit and it motivates you to go be the karate kid, you never do but still it had a theme, disappointed in current humanity version.
@SS S your comment would make more sense if you learned how to use commas
What exactly was stolen?
It's the bullying age of the brains, not the brawn. And that's scary.
Attacking someone smaller than you is everything but brave.
“There is no carol in hr!!!!”….really like the Pepe Silvia tracing you did there
TOLD you guys it was a money laundering scam weeks and weeks ago! yet I was attacked on twitter and put in twitter jail over it. Not only insider trading but also Scamming and pumping prices along with insider trading
Wow! No one has ever been “attacked” on Twitter before. You should write a book.
Having a Blankos ad before the start of this video is great.
Pump $Zilla!
Dude, you're a legend doing more work than anyone I've seen, even since the ICO days of '17.
The things you uncover is just mind-blowing 🤯
Not hero we deserve but the hero we needed! Great work! love your videos dude!
I would love to see the reaction of the people you expose watching your videos just saying “No No No that was all supposed to be secret!!! “ lol 😂
Coffeezilla would approve of my auto play dishing out 90%+ of his videos 😂
Coffee, I hope you understand how much we truly appreciate what you do. ❤
I've said it before, and I'll say it again. Coffeezilla needs to hire security.
Bro you deserve way more subscribers. Exposing everybody lol 📈
LOL in the first minute I guessed how I would do this and a thought experiment and he did it exactly how I thought and you Coffee unraveled it all. SEC needs to hire you.
I'm here I made it on time ...
Hey Mr. ZILLA...
0:39 that panda with a trunk..that’s logan Paul’s NFT, is it not ? 😅😂
Truly a boneheaded move. Nate's position within OpenSea would have likely made him ridiculously rich in the near future, but he was busy swiping nickels out of the wishing well.
DOJ finally charged this guy today....took them long enough
I loved that Studio C episode :)
That shoutout and applause at the end was just savage 😂😂😂😂
not gonna lie whoever edit your videos, give that guy a bonus :) his doing a great job
I’m glad you’re on the Case CoffeeZilla!!!!!!!!!
I look forward to your videos 🤝
that single tear on the wallstreetbets guy hahahaha impecable editing
Love your work - very passionate and intense investigations. Thanks. Quick question: which mind mapping software were you using?
I'd love to know which software he was using!
bitquery explorer, choose an address and look at the "money flow"
Nearly spat out my muesli when Coffee talked about the Cojones meeting and had the "Hot Fuzz" clip running in the background
To be honest i feel him. He probably wasn't making much at opensea and figured it's worth it to get fired if he has 500k in his wallet
That "Congratulations" at the end...I felt that 😁
Well done, as always
The SEC can't even wrap its head around what's happening here, they're not going to try to punish something they can't legally explain.
Coffee is fast on the news!
Great video. Was not surprised how quickly he got let go. Opensea really had no choice
Hi Coffeezilla, are you going to cover NFT games soon? I'd love to see roasting them lol
That would be great
Theres some fantastic nft games like gods unchained, axie infinity etc.
Roasting them? This guy hahaha you’re lost
you mean Earth 2?
There's alot of good NFT games coming out, but agree most are dogwater hahah
Cofeez thumbnails always crack me up 🤣🤣🤣
@coffeezilla I used to work in anti-moneylaundering and this is called "layering" (using a series of transactions and various accounts in an attempt to obscure the true origination and use of funds) and yes this is definitely messed up and he should lose his $ and go to jail.
It's not cancel culture its criminal culture Coffeezilla is fighting.
Get em Coffeezilla!
The SEC is definitely asleep at the wheel. Thankfully coffeezilla is awake
My hero does a review of the NFT BlockMonsters Game?
This is the kind of shit that happens when nothing is regulated
Hey Coffee, have you seen the news about the 1.2Billion Tether withdrawl?
Wow that’s fucked. 1 billion dollars
Narf
Deleted my reply here too...wow!!!
Wow 😳
*I'M DYING AT THE IDENTICAL REFERENCE AT **4:09**!* 🤭🤣😂
Hi Coffeezilla, I saw a lot of people talking about Block Monster, have you heard?
Coffeezilla doing the SEC work
I would love to see an investigation on NFTs and how they build hype. It seemed to be at the time when banks, Logan Paul etc all linked up and shilled the fuck out of it, and they made millions each within a week
Coffee's RUclips is the best Resume to be the head of the SEC anyone can ever come up with.. like no Cap its utter Brilliant
I have no intention on ever buying crypto or nfts. Its just hilarious seeing these people getting scewed. Most of this just seems like people trying get rich quick.
You are the Sherlock homes of the 21 century; Amazing work SIR:)