Altcoins News
By Pankaj K
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What Cohen-Pavon Actually Did. The charges stem from his time at Celsius. The platform promised yield to depositors, took their…
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Clayton's Measured Stance. Jay Clayton didn't throw out a number. He said follow the guidelines, which is kind of a non-answer.
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Federal prosecutors want a lighter sentence for Roni Cohen-Pavon. The former Celsius executive helped investigators. His defense team wants time served.
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Cohen-Pavon worked at Celsius, the crypto lending platform that collapsed spectacularly. Prosecutors filed papers saying his cooperation mattered.
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His defense team pushed hard for time served. They think cooperation should count. And it does, usually. Judges cut deals for people who flip. But how much?
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The judge has full discretion here. Sentencing guidelines aren't mandatory anymore—they're advisory. So the judge can go high, go low, or land somewhere in the middle.
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No sentencing date yet. The court hasn't set one. That's pretty typical when cooperation is involved—things drag because the person might still be helping with other cases.
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The defense argument is straightforward. Cohen-Pavon cooperated, gave investigators what they needed, and should get credit for it.
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Related: Banks Push Back as Senator Tillis Floats CLARITY Act Compromise on Stablecoin Rules
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Celsius collapsed in mid-2022. Withdrawals froze, billions vanished, and founder Alex Mashinsky ended up in handcuffs.
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The crypto lending space cratered around the same time. BlockFi, Voyager, Celsius—all went down within months of each other. Regulators started circling.
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Clayton's approach reflects a broader strategy. Don't promise too much, don't box yourself in. Let the judge do the heavy lifting.
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His legal team probably expected a stronger recommendation. When prosecutors say someone cooperated, they usually suggest a specific reduction. Here, they didn't.
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The lack of a sentencing date adds another layer of uncertainty. Cases like this can drag for months.
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See also: CFTC Ruling on Kalshi and Coinbase-Backed Prediction Markets Could Reshape Crypto Betting
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