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Crypto Trader Avi Eisenberg's $110M Fraud Trial Delayed Until April 2024
The alleged Mango Markets exploiter said he needs more time to prepare for trial.
Crypto trader Avi Eisenberg won't stand trial until April 8, 2024, after the judge overseeing the alleged Mango Markets exploiter's case agreed to a delay just a month before the trial was scheduled to begin.
Federal prosecutors allege Eisenberg committed commodities manipulation and wire fraud when he deployed a "highly profitable trading strategy" against the Solana-based decentralized crypto exchange Mango Markets in October 2022.
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The trial is being brought in the Southern District of New York, where just this week a team of lawyers secured the conviction of Sam Bankman-Fried in a quick-turnaround case that played out in less than a year.
Eisenberg's trial schedule was moving nearly as speedily until late October, when the Bureau of Prisons moved him from a New Jersey federal jail to Brookyln's more restrictive Metropolitan Detention Center, hampering defense lawyers' efforts to prepare for his December 8 trial date, according to a filing.
His lawyers also requested additional time because of the "complex and novel legal and factual issues" at play. Eisenberg's alleged scheme involved heady crypto-native concepts that will make any prosecution – and defense – far thornier than Bankman-Fried's relatively plain-vanilla fraud proceeding.
The government begrudgingly agreed to push the trial until April 8, 2024, and the judge overseeing the case agreed on Friday.
Read More: Accused Mango Markets Exploiter Wants to Keep $47M in Disputed Funds: Court Filings
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
