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Former Celsius CEO Alex Mashinsky is attempting to delay his court sentencing by one month in order to give his legal team time to “review government submissions for accuracy.” Inner City Press shared a letter from Mashinksy’s legal counsel on Wednesday that requests his sentencing be moved from April 8 to May 8. His counsel wrote, “The defense wants to ensure that it has sufficient time to prepare a sentencing submission that accurately presents Mr. Mashinsky’s views on his offense conduct.” Crypto in the court: Now Alex Mashinsky of Celsius who pled guilty asks to delay his sentencing for a month, from April 8 to May 8, 2025 – US Attorney's Office does not (for now) consent. Crypto Death Spiral: Could a Luna Rise Again book: https://t.co/AFZqhdQLlV https://t.co/2L5GN5Gy5z pic.twitter.com/QEwsYiAjXW — Inner City Press (@innercitypress) February 6, 2025 Read more: The Mashinskys used Celsius to promote Strong blockchain — and it still faile...

Around 100 investors in a Mexican crypto trading bot scheme that promised “daily payouts” and claimed to operate its own “crypto credit card” have filed an official complaint with public prosecutors after the firm disappeared, shuttering its physical offices, and blocking withdrawals. As reported by Milenio, Tehuacán and Puebla-based AMG GPT allegedly lured more than 3,000 people into buying trading bots — with prices starting at 400 pesos — “for a set time period” in return for seemingly guaranteed returns. However, while some users initially reported making money from their investments, the regular payouts didn’t last and many started to report “constant delays” when trying to access their funds. They were apparently told by AMG staff that they would need to “pay verification fees” if they wanted to access their money and when users attempted to visit the company in person, they found all four of its office...

A group of previous FTX customer s urges a U.S. court to modify the proposed repayment approach in their bankruptcy case.  The former customers contend that the current proposal unjustly excludes them from the significant increase in Bitcoin and other cryptocurrencies over the past year. Bitcoin is up by nearly 170% in a year, reaching $49,000 today for the first time in almost two years after yesterday’s historic ETF approval by the SEC. Over 80 individuals with their crypto assets locked in FTX have submitted objections to the plan. This plan suggests fixing the value of their assets to Nov. 11, 2022, the date FTX declared bankruptcy, with repayments in U.S. dollars rather than the original cryptocurrencies. 66 Objection letters have been filed by FTX creditors to debtors motion to dollarize claims (plan) TOS: Clearly state customers retain ownership of the assets Customers should be the first priority (crypto held in trust) Enough assets to pay customers first before others pi...

Oyster Protocol founder Amir Bruno Elmaani admitted he had secretly minted and sold the project’s PRL tokens for his gain. Elmaani will spend four years in prison for causing $5.5 million in tax losses. In a press release on Oct. 31, the United States Attorney’s Office noted that Elmaani pled guilty to tax offenses in April 2023. Yet, he will get the maximum sentence allowed by statute for secretly issuing and selling Pearl (PRL) tokens for his gain without paying taxes on crypto profits. Elmaani also agreed to pay restitution of $5.5 million. “Amir Elmaani violated the duty he owed to pay taxes on millions of dollars of cryptocurrency profits, and he also violated the trust of investors in the cryptocurrency he founded.” U.S. Attorney Damian Williams You might also like: Oyster Pearl’s anonymous founder disappears after selling $300,000 worth of ill-obtained PRL tokens Elmaani began promoting his crypto project called Pearl between September an...

The platform was charging investors ‘exorbitant and undisclosed fees’ with one user being charged recurring fees of $51,000 over a span of 13 months, according to the statement. Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees" for storing Bitcoin on the platform — leading to some accounts being drained entirely of its funds. Based in Brooklyn, Coin Cafe initially filed an application for a virtual currency license with the New York State Department of Financial Services in July 2015, however, was only approved in January this year. Despite the seven-and-a-half-year application process, it was allowed to operate throughout but was flagged as putting “investors at risk,” as it didn’t uphold its obligation to register with the Office of the Attorney General for New York – which all New York broker-dealers are required to do so. On May 18, it was revealed that the exchange had been...