The U.S. Department of Justice (DOJ) is seeking a 20-year prison sentence for Alex Mashinsky, the former CEO of bankrupt crypto lending platform Celsius, for orchestrating what it calls a “years-long campaign of lies and self-dealing” that defrauded thousands of investors. In a sentencing memorandum filed on April 28 , federal prosecutors urged the court to impose a two-decade sentence, citing Mashinsky’s central role in a scheme that left customers unable to access nearly $4.7 billion in cryptocurrency when Celsius froze withdrawals in June 2022. The DOJ described the fraud as deliberate and calculated, not a result of misjudgment or market misfortune. Mashinsky Admitted $550M Crypto Fraud, Pocketed $48M, DOJ Says According to the court document, Mashinsky admitted in his December 2024 guilty plea that he spearheaded fraudulent activities that caused over $550 million in losses and netted him at least $48 million in personal gains. Prosecutors emphasized that Mashinsky’s actions were not accidental but rather “intentional efforts to deceive and steal,” designed to boost his own fortune at the expense of retail investors. At the height of its operation in 2021, Celsius claimed to manage over $20 billion in crypto assets, promoting itself as a safe and profitable alternative to traditional banking. However, the DOJ revealed that behind the scenes, the company engaged in risky lending practices, made speculative trades, and used customer funds to manipulate the price of its CEL token. DOJ Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky Federal prosecutors called Mashinsky the architect of a "years-long campaign of lies and self-dealing" that left customers with billions in losses. pic.twitter.com/bppSCUCPim — Bingo666. (@Bingo666__) April 29, 2025 Mashinsky, despite assuring users that he was holding onto his CEL tokens, had actually sold more than $48 million worth of them at inflated prices. Celsius filed for bankruptcy in July 2022 , leaving around $4.7 billion in user assets locked on the platform. The DOJ argues that Mashinsky’s sentence should reflect the significant harm caused to investors and serve as a deterrent to similar misconduct in the crypto industry. Celsius Victims Demand Harsh Sentence for Mashinsky Last week, disgruntled investors from across the globe urged a federal judge to impose the maximum sentence on Mashinsky for his role in the company’s 2022 collapse. Over 200 victim impact statements were submitted to the court, with the majority demanding a severe punishment, citing financial ruin, emotional distress, and shattered dreams. One investor compared Mashinsky to Bernie Madoff and called for a life sentence, blaming him for pushing some victims to suicide. While his legal team has requested a sentence of just over a year, probation officers have recommended 15 years. The call for a harsh sentence comes amid a broader softening in crypto enforcement under the Trump administration, which has recently pardoned several high-profile crypto figures. The post DOJ Demands 20-Year Sentence for Celsius CEO Alex Mashinsky Over ‘Deliberate’ Fraud appeared first on Cryptonews .
The cryptocurrency landscape is vast, but few tokens offer the level of integration and real-world utility that MultiBank Group’s $MBG token provides. The $MBG token serves as both a utility platform and long-term investment resource for users accessing trading tools with additional DeFi solutions and institutional functions. What makes MBG different? Let’s break down its unique position in the current market. I. Tokenomics: The Secret to Long-Term Value $MBG’s tokenomics are designed to reward long-term holders while ensuring a deflationary trajectory that boosts value. Buyback & Burn Strategy: MultiBank Group has allocated $440 million to a buyback and burn program aimed at reducing the token supply by 50% over the next four years. Sustained Demand: The decrease in supply drives up scarcity which raises the worth of $MBG while the market value goes up. The strategic distribution model makes investors choose long-term holding that promotes sustained value growth. These measures will undoubtedly lead to a more valuable asset in the long run, as holders will benefit from increasing scarcity over time. II. $MBG’s Utility Across MultiBank Group’s Platforms One of the standout features of $MBG is its diverse utility, which extends across multiple platforms within the MultiBank Group ecosystem. Fee Reductions: The possession of $MBG tokens grants trading fee reductions across MultiBank FX, MEX Exchange and MultiBank.io therefore delivering concrete monetary advantages. Staking Rewards: By staking $MBG, users unlock high-yield APYs, bonus rewards, and a chance to participate in loyalty programs that offer exclusive perks. Exclusive Access: Holders of $MBG gain access to premium features and enhanced functionality across MultiBank’s services, which increases their overall trading efficiency. III. A Legacy of Trust: MultiBank Group’s Institutional Backing $MBG is not just another speculative asset; it's backed by one of the most established names in global finance. Over $29.36 billion in Daily Volume: MultiBank Group's massive trading volume ensures liquidity and a solid market for $MBG, making it a trusted token in the ecosystem. Global Regulation: MultiBank Group operates through 17 regulatory licenses which allows the firm to function inside a completely compliant space while $MBG obeys strict financial rules throughout various jurisdictions. Financial Stability: MultiBank Group’s impressive revenue, at over $361.8 million for 2024, offers investors confidence in the token's stability. IV. A Growing Ecosystem: $MBG’s Future in the Global Financial Market As the global financial market continues to evolve, MultiBank Group’s expansion will drive demand for $MBG. The group’s projections anticipate a $460 billion daily trading volume on MEX Exchange, further cementing $MBG’s potential for growth. V. Comparison with Other Exchange Coins MBG (MultiBank) distinguishes itself with strong regulatory coverage, holding 17 licenses across five continents, while BNB faces regulatory pressure in several regions, OKB operates with moderate regulatory exposure, and CRO has a licensed but narrower regulatory scope. In terms of TradFi access, MBG offers deep integration with over 20 years of experience in traditional finance, unlike BNB and OKB, which are primarily crypto-native with limited or no deep TradFi links. When it comes to burn mechanics, MBG implements a volume-linked model aiming for up to a 50% token burn, setting it apart from BNB’s quarterly auto-burns targeting a 50% token reduction. OKB burns 30% of spot trading fees, and CRO burns 20% of transaction fees, making MBG’s approach directly tied to real trading volume and long-term deflationary support. Regarding market phase, MBG is positioned as a high-growth, early-stage asset with significant upside potential. In contrast, BNB has matured into a top-tier market cap asset, while OKB and CRO occupy mid-cap positions with relatively stable or brand-focused growth paths. VII. Beyond Speculation: Institutional Focus in a Retail World While retail traders often chase short-term gains, institutional investors prioritize infrastructure, transparency, and risk mitigation. $MBG has been designed with this perspective in mind. Risk Management: Features like negative balance protection and no slippage execution make $MBG particularly attractive for institutional-grade strategies. Security Assurance: $MBG has passed an advanced 10/10 audit score from Hacken, offering investors peace of mind regarding its security standards. Fiat Accessibility: Through fiat-to-crypto ramps, including AED and other multi-currency options, $MBG ensures that real-world investors can easily interact with its utility. Institutional Onboarding: These features are not add-ons but foundational elements to onboard serious institutional capital into crypto, maintaining high standards and ensuring trust. VIII. Positioning for the RWA Boom As the cryptocurrency space evolves, Real World Asset (RWA) tokenization is expected to become a trillion-dollar trend. $MBG and its ecosystem are perfectly positioned to capitalize on this shift. Through regulated infrastructure, spot and derivative markets, and seamless cross-platform liquidity, $MBG offers not just token utility but a future-proofed digital finance experience. As tokenization of assets grows, $MBG will become more deeply embedded in MultiBank’s ongoing product iterations, offering investors a truly innovative, well-rounded financial ecosystem. IX. A Token Built for the Long Term $MBG is more than just a speculative asset; it is anchored in real financials, governed by decades of compliance-first operations, and structured for long-term growth. It offers a credible option for new entrants and institutions seeking exposure to digital assets without compromising on trust. $MBG represents a new type of token, one that is built from structure, supported by performance, and designed for a more mature and sustainable crypto economy. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Major Crypto Regulatory Overhaul Announced South Korea’s ruling People Power Party unveiled a sweeping set of reforms aimed at bringing the nation’s digital asset ecosystem into the modern age. Of seven major legislative reforms, a landmark step is the greenlighting of spot Bitcoin ETF trading, which is set to be in place by the end of 2025, said local news outlet Edaily. For the first time, investors from South Korea will have the opportunity to invest in exchange-traded funds (ETFs) that are tied to major cryptocurrencies like Bitcoin and Ethereum. Representative Park Soo-min said such reforms were urgent, as major financial hubs like the U.S., Hong Kong, and the U.K. have already legalized similar financial instruments. Hong Kong and the U.K. have approved spot ETF trading one after the other. Korea cannot lose any time,” Park said. The approval is seen as a necessary step in assisting South Korea in remaining competitive in the rapidly evolving global crypto market. Facilitating Institutional Participation By the second quarter of 2025, 3,500 institutions and corporations, including 2,500 listed companies and 1,000 investment companies, will be able to trade digital assets freely. This is a dramatic shift from past restrictions that kept institutions out of the crypto space. Another major reform is the elimination of the limiting “One Crypto Exchange, One Bank” policy. Exchanges were limited to working with a single bank, primarily to combat money laundering. Exchanges will now be allowed to partner with multiple banks, promoting healthier competition and innovation. Other Reforms: Token Securities and Taxation The People Power Party also vowed to create a token securities (STO) bill, introduce a stablecoin regulation system within global standards, and implement a dedicated crypto taxation system. These steps are designed to build a stronger, safer foundation for industry expansion. There will be a special committee chaired by the presidential candidate that will oversee the regulatory implementation, with institutionalization of virtual assets and promoting industrial innovation. Crypto Investments Surging Among South Koreans A recent study by Hana Bank concluded that young South Korean investors now prefer crypto assets. In addition, more than 30% of the country’s wealthy now prefer cryptocurrencies as a long-term investment, surpassing traditional assets like real estate and gold.
In a recent update from COINOTAG News, Binance Futures has announced a modification to the funding rate cap for the ALPACAUSDT perpetual contract. This adjustment will take effect on April
Imagine walking into a high-end jewelry store, admiring exquisite pieces, and then pulling out your phone not to use a credit card, but your crypto wallet. This futuristic scenario is rapidly becoming a reality, especially for enthusiasts of both luxury and digital assets. The latest exciting development comes from the world of high-end fashion and jewelry, signaling a significant step forward for cryptocurrency adoption in the luxury sector. This move by a renowned French jeweler is set to redefine how consumers can interact with premier brands and utilize their digital wealth. Which Luxury Brands Are Accepting Crypto Now? Messika Joins the Ranks The intersection of luxury goods and cryptocurrency has been a topic of growing interest. While some pioneering brands have dipped their toes into the space, the announcement from Messika, a celebrated Paris-based jewelry company, marks a significant moment. Known for its modern and dazzling diamond creations, Messika is now officially accepting cryptocurrency payments across its retail locations in Europe and the United States, as well as through its global online platform. This isn’t just a pilot program; it’s a full integration designed to cater to a clientele that is increasingly sophisticated and digitally native. The decision by Messika highlights a growing recognition among luxury brands that the holders of significant cryptocurrency wealth represent a valuable market segment eager for new ways to spend their digital assets. Exploring the Details of Messika Crypto Payments How exactly is Messika making this possible? The seamless integration of crypto payments is facilitated through a strategic partnership with Lunu, a leading crypto payment provider. Lunu specializes in enabling businesses to accept various cryptocurrencies and settle in traditional fiat currency, simplifying the process for merchants and customers alike. The collaboration allows Messika customers to make purchases using some of the most prominent and widely held cryptocurrencies in the market. According to reports, the accepted digital currencies include: Bitcoin (BTC): The original and largest cryptocurrency by market capitalization. Ether (ETH): The native cryptocurrency of the Ethereum network, known for its smart contract capabilities. USDT: Tether, a popular stablecoin pegged to the US dollar, offering stability compared to more volatile assets. Solana (SOL): A high-performance blockchain platform known for its speed and efficiency. The inclusion of both established giants like Bitcoin and Ether, alongside a widely used stablecoin and a fast-growing alternative like Solana, demonstrates Messika’s intention to offer flexibility and cater to a broad spectrum of crypto holders. Why Pay with Bitcoin Luxury Goods? The Appeal for Consumers For customers holding Bitcoin and other cryptocurrencies, the ability to use them directly for luxury purchases offers several compelling advantages: Convenience: Skipping the step of converting crypto to fiat through an exchange can save time and potential fees. Liquidity: It provides a direct avenue to utilize accumulated digital wealth for tangible, high-value assets. Privacy: While not entirely anonymous, crypto transactions can offer a degree of privacy compared to traditional payment methods linked to personal banking information. Access to Global Markets: For international customers, paying in crypto can sometimes simplify cross-border transactions. The appeal to pay with Bitcoin luxury items isn’t just about convenience; it’s also about making a statement. It signifies participation in a modern, forward-thinking economy where digital assets are recognized and valued by prestigious brands. Ethereum Payment Jewelry and Beyond: The Expanding Horizon While Bitcoin often grabs headlines, the acceptance of Ethereum payment jewelry by Messika is equally significant. Ethereum’s network is the backbone for much of the decentralized finance (DeFi) world and the NFT market, representing a vast ecosystem of users with substantial digital holdings. Enabling Ether payments directly connects Messika to this wealthy and active community. The inclusion of USDT provides a stable option, shielding both the customer and the merchant from the price volatility often associated with cryptocurrencies. This is particularly important for high-value transactions common in the luxury sector. Solana’s inclusion points towards an acknowledgment of newer, faster blockchain technologies and their growing user base. Solana USDT Payments: Catering to Diverse Crypto Portfolios The decision to accept a range of cryptocurrencies, including Solana USDT payments , reflects an understanding that crypto holders have diverse portfolios. It moves beyond simply accepting Bitcoin and Ether to embrace the broader digital asset landscape. This inclusivity is likely to resonate well with crypto enthusiasts who appreciate the flexibility. The process facilitated by Lunu ensures that while customers pay in crypto, Messika receives the equivalent value in fiat currency, mitigating the jeweler’s exposure to crypto market fluctuations. This backend conversion is key to making crypto payments viable for traditional businesses. What Does This Mean for the Future of Luxury and Crypto? Messika’s move is more than just a payment option; it’s a cultural shift. It signals that the luxury industry is increasingly willing to adapt to the evolving financial landscape and cater to a new generation of wealthy consumers who have made their fortunes in the digital realm. This trend is expected to continue, potentially influencing other high-end brands to explore similar integrations. This adoption by a mainstream luxury brand also lends further legitimacy to cryptocurrencies as a medium of exchange, moving them beyond speculative assets into practical tools for commerce. It bridges the gap between the digital economy and traditional high-street retail, creating new possibilities for both consumers and businesses. Benefits for Messika and the Luxury Sector Beyond catering to crypto-rich customers, accepting digital payments offers benefits for Messika itself: Market Expansion: Taps into a global pool of potential customers who prefer or exclusively hold crypto. Modern Image: Positions Messika as innovative and forward-thinking, appealing to younger, tech-savvy demographics. Potential Cost Savings: Crypto transaction fees can sometimes be lower than traditional credit card processing fees, especially for international transactions. Faster Settlements: Depending on the crypto and provider, settlement times can potentially be faster than traditional methods. This move sets a precedent and could encourage other players in the luxury watch, fashion, automotive, and art markets to follow suit, accelerating the integration of crypto into high-end retail. Challenges and Considerations While exciting, the adoption of crypto payments isn’t without its challenges: Volatility: Although Lunu handles the conversion to fiat for the merchant, the customer is still exposed to volatility until the point of sale. Regulation: The regulatory landscape for cryptocurrencies is still evolving globally, which can present complexities. Technical Integration: Ensuring smooth and secure transactions requires robust technical infrastructure. Customer Education: Some customers may still be unfamiliar or hesitant to use crypto for payments. Despite these hurdles, the commitment from brands like Messika suggests that the perceived benefits outweigh the challenges, at least for now. Conclusion: A Sparkling Future for Crypto in Luxury Messika’s decision to accept Bitcoin, Ether, USDT, and Solana payments is a glittering example of how luxury brands are embracing the future of finance. By partnering with Lunu, the French jeweler is not only catering to a growing market of crypto holders but also setting a new standard for customer experience in the high-end retail space. This move underscores the increasing legitimacy and utility of cryptocurrencies as a means of payment for goods and services, even at the highest levels of commerce. As more consumers accumulate wealth in digital assets, the ability to spend that wealth directly on desirable items like Messika jewelry will become increasingly important, paving the way for wider crypto adoption across the luxury sector and beyond. To learn more about the latest trends in luxury brands accepting crypto and crypto payment solutions , explore our article on key developments shaping the future of digital asset payments .
Recent inflows into BlackRock’s Bitcoin ETF highlight a potential turning point for Bitcoin’s market dynamics, presenting significant support amid fluctuating retail interest. With nearly $1 billion invested by BlackRock’s iShares
In a recent update, COINOTAG reported that on April 29th, the most actively traded tokens on Binance by volume included KMNO, POPCAT, and FARTCOIN. Collectively, these tokens represented a significant
Strategy (MSTR) has expanded its bitcoin holdings again, purchasing 15,355 BTC for around $1.42 billion last week. The average price paid per coin was $92,737 , according to a Monday regulatory filing. This latest buy pushes Strategy’s total bitcoin stack to 553,555 BTC, now valued above $52 billion with bitcoin trading slightly over $95,000. The company’s average purchase price across all its bitcoin is $64,459. The acquisition was financed through proceeds from recent stock sales. Between April 21 and 27, Strategy sold over $4 million of Class A common shares and more than 435,000 preferred STRK shares. As of now, just $128.7 million remains in its at-the-market (ATM) stock program, which initially launched with $21 billion in October 2024. Following the announcement, MSTR shares rose 1.5% in pre-market trading, tracking a slight uptick in bitcoin's price.
BlackRock’s exchange-traded fund (ETF) bought nearly $1 billion worth of Bitcoin on behalf of its clients on April 28, with continued inflows providing “structural support” for Bitcoin’s price appreciation, according to market analysts. BlackRock’s iShares Bitcoin Trust (IBIT) ETF bought $970 million worth of Bitcoin ( BTC ) on April 28, its second-largest day of inflows on record after scooping up $1.12 billion of BTC on Nov. 7, 2024, Sosovalue data shows. IBIT ETF Inflows, all-time chart. Source: Sosovalue IBIT’s near $1 billion investment brought total net inflows to US spot BTC ETFs to just above $590 million, with all other ETFs realizing net negative outflows or remaining flat. ARK Invest’s ARKB ETF recorded the highest outflows of $226 million. Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back “Nearly *$1bil* into iShares Bitcoin ETF today.. 2nd largest inflow since Jan 2024 inception. I still remember when there was “no demand,” Nate Geraci, the president of ETF Store advisory firm, wrote in an April 29 X post . BlackRock’s IBIT is the largest spot BTC ETF, with over $54 billion in assets under management, accounting for 51% of the total spot BTC ETF market share, Dune data shows. Bitcoin ETFs by market share. Source: Dune The latest inflows make IBIT the world’s 33rd-largest ETF among crypto and traditional finance-based ETFs, according to data from ETF Database. Last week’s “ETF inflows and croproate buying” have been significant for Bitcoin’s recovery above $94,000, as retail investor interest continued to lag, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph. Related: Bitcoin’s role as a reserve asset gains traction in US as states adopt ETFs provide “structural” support for Bitcoin rally Bitcoin’s recovery over the past week was aided by over $3 billion worth of cumulative net inflows for the US spot Bitcoin ETFs, marking their second-highest week of investments since launch. The Bitcoin price posted its “strongest weekly gain since Trump’s election victory, but signs suggest another move could be brewing,” according to Nexo dispatch analyst Iliya Kalchev. “ETF inflows into spot Bitcoin products topped $3 billion last week — the highest since November — providing structural support that could fuel further upside,” the analyst told Cointelegraph. Bitcoin investments have previously been a significant driver of Bitcoin’s upside momentum. Bitcoin ETFs accounted for an estimated 75% of new investment into Bitcoin when it recaptured the $50,000 mark in February 2024, a month after the debut of the US spot Bitcoin ETFs. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Over 85% of Bitcoin’s circulating supply is currently in profit, signaling strong investor confidence and bullish trends. As Bitcoin approaches 90% of its supply in profit, a euphoric market phase