Avi Eisenberg May Testify in $110M Crypto Fraud Trial, Defense Says
Policy
Crypto trader Avi Eisenberg may testify at his criminal commodities fraud and manipulation trial, his defense team said Thursday.
They have yet to make a final decision on the matter as the government's case nears its conclusion.
The 28-year old crypto trader could face as much as a 20-year prison sentence if the 15-person jury convicts him on all three counts stemming from his October 2022 trades on the DeFi trading platform Mango Markets, which netted him $110 million in cryptocurrencies. The government seeks to portray that trade as an illegal windfall from market manipulation, while the defense calls it a legitimate trading strategy.
Read more: DeFi Trader Eisenberg 'Wasn't Borrowing, He Was Stealing,' Prosecutor Says in Opening Argument
Related news
Policy
Nov. 16, 2024
An Interview With El Salvador’s Top Crypto Regulator: ‘Developing Countries Can Lead the Financial Revolution’
Juan Carlos Reyes, the CNAD’s president, sat down with CoinDesk for an exclusive interview. Crypto regulators need to deeply understand the technology before offering regulatory frameworks, Reyes said. Tokenization efforts are particularly att...
Policy
Nov. 15, 2024
Razzlekhan's Husband Gets Five Years Prison Sentence for Bitfinex Hack
Lichtenstein was behind the theft of 120,000 bitcoin from Bitfinex in 2016. Prosecutors described his attempts to launder the money as “the most complicated” techniques IRS agents had seen to date. Ilya Lichtenstein was sentenced to five year...
Policy
Nov. 15, 2024
Trump Names Former SEC Chair Jay Clayton to DOJ Office, the Same Office That Prosecuted SBF
President-elect Donald Trump said former Securities and Exchange Commission Chair Jay Clayton would be his U.S. Attorney for the Southern District of New York, heading up the state's Department of Justice branch. Clayton, who has advised a nu...
Policy
Nov. 15, 2024
Republican State AGs and DeFi Lobby Sue SEC Over Crypto Enforcement Actions
A group of state attorneys general and the DeFi Education Fund sued the U.S. Securities and Exchange Commission and its five commissioners alleging the agency was overstepping its bounds in bringing enforcement actions against crypto exchanges. ...
Policy
Nov. 14, 2024
UK Government Plans Pilot for a Digital Gilt Instrument Using Distributed Ledger Technology
"The government will launch a pilot to deliver a Digital Gilt Instrument, using distributed ledger technology (DLT)," the government said in a statement. Labour took over the government in July but has since said little about its crypto plans. ...
Policy
Nov. 14, 2024
Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs)
Polymarket is reportedly under investigation by the Department of Justice for allowing U.S. residents to trade on its platform, despite a regulatory settlement prohibiting such activity. Even though the prediction market blocks U.S. IP addresse...
