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More than 300 crypto industry participants signed a petition calling on the Trump administration to end prosecutions of open source software developers More than 300 crypto industry participants, including Tyler and Cameron Winkelvoss, have signed a petition launched by DeFi advocacy group DeFi Education Fund. The petition calls on the Trump administration to end the illegal prosecution of open source software developers in the United States and urges David Sacks, the White House director of cryptocurrency and artificial intelligence, to defend software developers facing scrutiny from the Department of Justice.

FTX has initiated legal proceedings against NFT Stars Limited and Delysium, seeking to recover digital assets allegedly withheld from its estate. The lawsuits are the latest in its ongoing efforts to reclaim funds and maximize creditor recoveries following its collapse in November 2022. The defunct crypto exchange announced on April 29 that it had filed two formal complaints after multiple attempts to engage with the firms in question were ignored. The suits allege that NFT Stars and Delysium failed to transfer tokens to which the firm is contractually entitled. Legal filings in the case against Delysium state that Alameda Ventures, now Maclaurin Investment, paid $1 million in January 2022 for rights to receive 75 million AGI tokens. These coins officially launched in April 2023 with a vesting structure allowing 20% to unlock after 12 months, followed by quarterly releases. However, Delysium allegedly changed the terms by extending the period to 48 months without FTX’s consent and refused to transfer any tokens, citing ongoing bankruptcy proceedings. The complaint against NFT Stars claims that the exchange paid $325,000 in November 2021 to secure 1.35 million SENATE tokens and 135 million SIDUS tokens. While some coins were delivered before FTX’s bankruptcy filing, the company asserts that over 831,000 SENATE and 83 million SIDUS remain unpaid. FTX alleges breach of contract and a violation of the automatic stay triggered by its bankruptcy protection. “We urge token and coin issuers to return assets that rightfully belong to FTX, and are willing to initiate litigation barring adequate engagement,” the Estate said in a statement. “Our team continues to work tirelessly to maximize recoveries for the FTX Estate and return funds to creditors.” The company also confirmed that it is in discussions with several other token issuers and warned that further legal action would follow if they don’t cooperate. These lawsuits come amid the defunct exchange’s broader recovery campaign, which has already seen some success. On February 18, 2025, the company began distributing recovered funds to creditors, starting with approved claims under $50,000 in the Convenience Class. The next round of disbursements is scheduled for May 30, 2025, with the record date set on April 11. This one will cover Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and additional approved Convenience Claims. The initiative follows a court-approved reorganization plan finalized in October 2024 that projects average recoveries of 119% per claim, with some creditors receiving up to 140% in cash. FTX estimates that total asset recoveries will range from $14.7 billion to $16.5 billion, aided by successful recovery efforts from the U.S. Department of Justice and global regulators.

Federal prosecutors have asked a U.S. court to sentence Alex Mashinsky, the founder of Celsius Network, to 20 years in prison. The DOJ claims he orchestrated a massive fraud that misled thousands of investors and resulted in billions of dollars in losses. The sentencing request follows Mashinsky’s December guilty plea to multiple fraud-related charges. In a sentencing memo filed late yesterday, the Department of Justice accused Mashinsky of executing a calculated scheme to enrich himself at the expense of Celsius customers. The DOJ said his crimes were not the result of mismanagement or market downturns, but “deliberate, calculated decisions to lie, deceive, and steal.” Related: Celsius Founder Joins SBF, Do Kwon in Lineup of Prosecuted Crypto Founders Mashinsky was charged with misrepresenting the safety of customer deposits and artificially inflating the price of Celsius’s native token, CEL. Despite promising high yields and low risk, prosecutors said he engaged in risky trading, issued uncollateralized loans, and misused customer assets behind the scenes. At its height in 2021, Celsius managed over $20 billion in crypto assets. The platform collapsed into bankruptcy in July 2022, leaving about $4.7 billion in customer funds trapped. Prosecutors now estimate the total loss at nearly $7 billion, accounting for current crypto market values. The DOJ said Mashinsky personally gained from the fraud, selling more than $48 million worth of CEL while publicly telling customers he was holding the token alongside them. Prosecutors allege his assurances were part of a broader deception that left thousands of investors financially devastated. Despite pleading guilty, Mashinsky has not acknowledged the full extent of his wrongdoing, according to the DOJ. The memo claims he continues to shift blame onto regulators, market conditions, and even his victims. Prosecutors argue this lack of remorse justifies the maximum recommended sentence. “Mashinsky’s refusal to take responsibility underscores the need for a significant sentence,” the DOJ stated. “It is essential to send a clear message to other crypto executives.” The Mashinsky case is one of the most high-profile fraud prosecutions in the crypto industry to date. It comes amid growing calls for regulation and oversight in the digital asset sector. Related: Celsius Founder Pleads Guilty: Faces Fraud Sentencing in 2025 Prosecutors warned that a lenient sentence could undermine public trust and embolden others to prioritize personal gain over investor protection. Notably, the court has scheduled May 8 as the sentencing date. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

New York AG considers dropping Samourai Wallet lawsuit New York’s attorney general is considering dropping a lawsuit against the founders of cryptocurrency wallet app Samourai Wallet, CoinDesk reported. The U.S. Department of Justice previously filed a lawsuit against Samourai

The DeFi Education Fund, a research and advocacy organization, has petitioned the Trump administration to intervene in the prosecution of Roman Storm, the Tornado Cash co-founder facing criminal charges. According to an April 28 letter directed to White House crypto czar David Sacks, the group urged President Trump to “take immediate action to discontinue the Biden-era Department of Justice’s lawless campaign to criminalize open-source software development.” They argued that Storm’s case is part of a broader overreach that “threatens the very foundation of technological innovation” in the United States. Storm, whom the U.S. Department of Justice charged in August 2023, has been accused of helping launder over $1 billion through Tornado Cash, a popular crypto mixing service. He faces charges of conspiracy to facilitate money laundering, conspiracy to operate an unlicensed money transmitter, and violating U.S. sanctions, offenses that could carry a combined sentence of up to 45 years if convicted. As previously reported by crypto.news, last year Storm filed a motion to dismiss all charges, arguing that Tornado Cash was an immutable, open-source protocol beyond his control. However, U.S. District Judge Katherine Polk Failla denied the motion in September 2024, ruling that the indictment met the legal threshold to proceed to trial. A subsequent bid for reconsideration was also rejected in February 2025. In their letter, the DeFi Education Fund argued that the Department of Justice is pushing an “unprecedented theory” by attempting to hold developers liable for how others use their code, even when they have “no control over those third parties or user assets.” They warned that if left unchecked, this legal approach “freezes” open-source development altogether. The group also pointed out that Storm’s prosecution appears to contradict earlier Treasury Department guidance issued during Trump’s first term , which clarified that developers of self-custodial, peer-to-peer protocols are not considered money transmitters under federal law. “We in the blockchain industry have relied on that guidance in good faith since 2019,” the letter stated. Further, the letter warned that beyond Storm’s individual case, the DOJ’s actions create a legal environment that “empowers politically-motivated enforcement” and puts every open-source developer at risk, regardless of industry. “No one writing code in good faith should have to fear prosecution for the actions of strangers,” the letter said, arguing that innovation in fields like financial technology, artificial intelligence, and even healthcare could be stifled if developers are held liable for how their tools are used. Achieving the goal of making America the “crypto capital of the planet,” they said, requires protecting the very builders who create the underlying technology. “We ask President Trump to protect American software developers, restore legal clarity, and end this unlawful DOJ overreach,” the group wrote, adding that the stakes “could not be higher” for the future of crypto innovation in the U.S. Meanwhile, support for the petition is growing, with more than 253 signatures as of press time from various industry leaders, including Ethereum core developer Tim Beiko, Paradigm co-founder Matt Huang, and Bankless co-founder Ryan Sean Adams.