Coindesk

NEW YORK, NY — Mango Markets exploiter Avraham “Avi” Eisenberg, who stole $110 million from the now-defunct decentralized finance protocol in 2022, was sentenced to 52 months in prison on Thursday — on his guilty plea to possession of child sexual exploitation material, not for his conviction on the crypto theft. The sentencing comes a year after a New York jury found Eisenberg guilty of wire fraud, commodities fraud and commodities manipulation for his Mango Markets stunt, and a year after he separately pleaded guilty to the possession of child sexual abuse material (CSAM), which was found on his devices after his arrest. Defense attorneys moved for either a new trial or an acquittal on the Mango Markets-related charges last year,...

What may or may not have been a blow-off top last week in the price of gold appears to have benefitted bitcoin (BTC) and that trend could be set to continue.Already among the best-performing global assets in recent months, gold's rally powered to new heights in the weeks following President Trump's Liberation Day tariffs in early April.The price ultimately peaked above $3,500 per ounce on April 21, with bitcoin at the time changing hands at $87,000 — roughly flat from Liberation Day, but lower by about 20% from its record high hit in January.Since, though, gold has tumbled nearly 10% to its current price just above $3,200 per ounce. At the same time, bitcoin has rallied about 10% to a...

Geopolitical tensions and evolving trade policies continue to shape cryptocurrency markets, with Solana emerging as a focal point amid global economic uncertainty. SOL has shown impressive recovery strength, climbing 8% from its April 30 low of $140 to around $152, with daily trading volume jumping 35% over 24 hours. This resilience comes as US-China trade relations deteriorate, creating ripple effects across traditional and digital asset markets.The move comes as the broader market gauge CoinDesk 20 Index, climbed about 4% on Thursday. Technical Analysis HighlightsSOL recovered from a significant 7.4% correction on April 30, dropping from 148.03 to 140.63 before reaching new period highs at 152.69.Overall trading range of 12.04 points (8.3%) showcases volatility, with strong support established at 140.65. Volume...

Coinbase will suspend trading of Movement's MOVE token, citing "recent reviews," following a CoinDesk investigation into market-making deals that experts said incentivized price manipulation. The token fell more than 13% on the trading suspension news, while the broader market gauge CoinDesk 20 Index rose 4.4%. Movement Labs is currently investigating how a market maker may have gained access to a significant number of its tokens, which were then dumped on retail investors, causing its price to tank. The market maker, Web3Port, appears in contracts previously reported by CoinDesk. Coinbase did not share many details about the trading suspension, just announcing that it would do so on May 15 by 2:00 p.m. Pacific Time (21:00 UTC). Coinbase said it has already...

Crypto investment firm dao5 raised a $222 million fund to invest in blockchain projects targeting institutional and government adoption. The fund brings the firm’s total assets under management to $550 million.Founded in 2022 by Tekin Salimi, a former partner at Polychain Capital, dao5 made early bets on projects including Story Protocol, Bittensor, Berachain and EigenLayer. The firm’s first fund, launched during the final days of the last bull market three years ago, was fully deployed and has already returned “the vast majority of commitments to its limited partners,” according to a press release shared with CoinDesk.“Crypto is entering its adolescence phase. The industry’s dependency on pure speculation as the driver of growth is no longer as effective as it once...