The Crypto Puzzle: Smart Minds or Sneaky Schemes?
The Brothers at the Center of the Storm
In a Manhattan courtroom, a puzzle is unfolding. Two brothers, both MIT graduates, are at the center of a heated debate. Are they clever tech geniuses or crafty criminals? The jury is trying to figure that out.
Anton and James Peraire-Bueno grew up loving board games and video games. They used their smarts to dive into the world of cryptocurrency trading. They started a company called 18 Decimals and made a lot of money. But not everyone is happy about how they did it.
The Nicknames and the Strategy
The brothers used online nicknames like "Snoopy" and "Curious Rabbit." They said they were trying to fix problems in the crypto world. But the government sees it differently. They say the brothers tricked other traders out of $25 million in just 12 seconds.
The defense says the brothers were just using a smart trading strategy. They even paid taxes on their earnings. But a witness from a company called Flashbots had mixed feelings. He said the brothers were talented but made a dumb move.
The Parents' Support and the Stakes
The brothers' parents have been in court every day. They say their sons are not guilty. If found guilty, the brothers could face up to 20 years in prison for each charge.