Weekly Highlights
Mashinsky’s 12-Year Sentence Marks Enforcement Shift in the Trump Era
The Southern District of New York has sentenced Alex Mashinsky, the former CEO of Celsius, to 12 years in prison for fraud. His legal defense attempted to argue for a lighter sentence, noting his previously unblemished record, military service, and his willingness to plead guilty. However, federal prosecutors recommended a significantly stricter 20-year sentence during hearings on April 28.
Prior to the May 8 court date, betting markets anticipated a lighter sentence, with Polymarket indicating only an 11% likelihood of a 20-year term or more.
US VP Vance to Address Bitcoin Conference Amid Trump’s Crypto Controversies
US Vice President JD Vance will deliver a speech at the Bitcoin 2025 conference in Las Vegas, a year after Donald Trump, then a candidate, attended the same event. As announced on May 9, Vance will be the first sitting vice president to participate in a digital asset conference when he speaks on May 28.
Wife of Former FTX Exec Claims Government Coerced Guilty Plea
Michelle Bond, wife of Ryan Salame, ex-co-CEO of FTX Digital Markets, is seeking to quash charges against her husband, alleging that US prosecutors misled him during his plea agreement. In a May 7 filing, her legal team reiterated Salame’s claims that prosecutors manipulated the plea process, promising not to pursue charges against Bond but failing to document this in writing.
Zerebro Developer’s Death Questioned as New Evidence Emerges
The crypto community is abuzz with claims that Zerebro developer Jeffy Yu faked his suicide to promote a new memecoin during a live stream on May 4. Speculation stems from an unverified letter purportedly sent by Yu to an investor, suspicious trading linked to his crypto wallets, and the removal of his obituary from a memorial site. Some believe he may have engineered a livestream to appear as if he harmed himself.
North Korean Operative Exposes Links in Fake Job Interview
Cointelegraph engaged in an investigation involving a suspected North Korean spy who was attempting to secure freelance roles within the cryptocurrency domain. Led by Heiner Garcia, a cyber threat intelligence expert, the investigation uncovered a network of individuals leveraging false identities and GitHub accounts linked to North Korea, highlighting their methods for bypassing traditional security measures.
Market Overview: Winners and Losers
This week, Bitcoin (BTC) stands at $103,024, Ether (ETH) is valued at $2,338, and XRP is trading at $2.35. Overall, the cryptocurrency market capitalization has reached $3.26 trillion, as reported by CoinMarketCap. Among the top 100 cryptocurrencies, the leading altcoin gainers include Pepe (PEPE) at 46.63%, dogwifhat (WIF) at 27.96%, and Ether (ETH) at 27.723%. Conversely, the biggest losers are Kaia (KAIA) at 2.26%, UNUS SED LEO (LEO) at 1.63%, and XDC Network (XDC) at 0.41%.
