🔔 Crypto trader Avi Eisenberg is currently on trial in New York, facing charges of commodities fraud, commodities manipulation, and wire fraud. The charges are related to his October 2022 trades on Mango Markets, which netted him $110 million.

The prosecution argues that Eisenberg manipulated the market, trading large sums of MNGO perpetual futures contracts between himself to inflate the price over 1000%. He then allegedly used this collateral to drain $110 million in various cryptocurrencies via the platform’s “borrow” function.

Eisenberg's defense team, led by renowned crypto attorney Brian Klein, argues that his trades were a "successful and legal trading strategy" that complied with the Mango Markets protocol. They highlight the platform's lack of Terms of Use at the time of Eisenberg's exploit.

What's your take on this case? Do you think Eisenberg's actions were fraudulent or a savvy use of the platform's rules? Let's discuss in the comments! 🚀