Celsius‘ former chief revenue officer received a lenient sentence after his 2023 guilty plea for fraud and conspiracy to commit price manipulation. A US federal judge has sentenced the former chief revenue officer of defunct cryptocurrency lending platform Celsius to time served after almost three years following his arrest on fraud and conspiracy charges. In a sentencing hearing in the US District Court for the Southern District of New York on Wednesday, Judge John Koeltl ordered that Roni Cohen-Pavon be sentenced to time served and one year of supervised release for his role in manipulating the price of Celsius’s CEL token and fraud on the platform. The former chief revenue officer initially pleaded not guilty to four charges following his arrest in September 2023, changing his plea to guilty about a week later. Read more
Bitcoin’s $79,000 defense proves that the Coinbase discount is driven by stablecoin volatility rather than a lack of institutional demand. Key takeaways: Bitcoin (BTC) showed resilience on Thursday by successfully defending the $79,000 level. However, some traders worry that upside momentum is stalling as Bitcoin on Coinbase trades at a discount relative to stablecoin pairs on international exchanges. While the indicator is often debated, it potentially suggests a lack of institutional buying demand, though the situation is likely more complex. Read more