Crypto trader Avi Eisenberg, who is facing a possible 20-year prison sentence, might testify in his ongoing criminal trial over commodities fraud and market manipulation charges. The potential decision comes as the government’s case against him, which accuses Eisenberg of illegally obtaining at least $110 million through manipulative trades on the DeFi platform Mango Markets, is drawing to a close.
The Charges and Defense Strategy
Eisenberg’s charges stem from October 2022 trades that prosecutors claim were an illegal exploitation of the market. His defense, however, argues that his trading actions were legitimate. As the trial progresses, the prosecution has been laying out how Eisenberg allegedly manipulated the price of MNGO tokens across multiple exchanges to withdraw over $100 million fraudulently.
Complications and Negotiations
The trial has seen developments, including the government’s decision not to call Mango Markets founder Dafydd Durairaj as a witness. This move has disrupted the defense’s plans to interrogate Durairaj, who had previously negotiated the return of $67 million to Mango Markets in exchange for not pressing charges against Eisenberg. The defense is now seeking court assistance to serve Durairaj with a subpoena.
As Eisenberg’s legal team deliberates on his potential testimony, the trial continues to unravel the complex dynamics of crypto trading, market manipulation, and the legal frameworks governing decentralized finance platforms.
