Jury Begins Deliberations in $110M Mango Markets Fraud Trial

The Big Whale

— 1 min read
  • Eisenberg's fate in $110 million Mango Markets trades now in jury's hands.
  • Prosecutors claim market manipulation, fraud; defense argues legal trading strategy.
  • Expert witness testimony thrown out; prosecutors allege Eisenberg stole, not borrowed.
  • Eisenberg faces up to 20 years in prison if convicted on all counts.

Summary : Crypto trader Avi Eisenberg's fate now lies in the hands of a jury in New York, who are deciding whether his trades on Mango Markets, which earned him $110 million, were legitimate or fraudulent. Eisenberg is facing charges of commodities fraud, commodities manipulation, and wire fraud. The defense argued that his trades were a legal and successful strategy within the Mango Markets protocol, while the prosecution claimed that Eisenberg knowingly engaged in market manipulation and stole funds. The defense rested without calling Eisenberg to the stand, and the jury will now determine his guilt or innocence. If convicted, Eisenberg could face up to 20 years in prison.
Original article by Coindesk (published on Apr 17, 2024, 8:06 PM).

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