❕ Gotbit Founder Pleads Guilty, Forfeits $23M for Crypto Market Manipulation
Alexey Andryunin, founder of market-making firm Gotbit, has admitted to market manipulation charges and agreed to forfeit $23 million in USDT and USDC under a plea deal with U.S. authorities. The company allegedly engaged in artificial price inflation and wash trading from 2018 to 2024. While Andryunin could face up to 20 years in prison, the court will decide whether he serves jail time or remains on probation with a ban on crypto-related activities.