Cryptocurrency advocacy group Coin Center has filed an amicus brief in the criminal trial of two brothers accused of a $25 million MEV exploit on the Ethereum blockchain. They argue against the prosecutors’ theory of “honest validation” as lacking merit and being detrimental. The outcome may impact cryptocurrency traders and platforms. Defense lawyers call the theory a “nonsensical allegation.” The brothers face charges that could result in up to 20 years in prison for each count. Source: Peter Van Valkenburgh.

The amicus brief was filed amidst opposition from US prosecutors, who believe Coin Center’s arguments could sway the jury using policy arguments instead of legal ones. The case involves the use of MEV bots to manipulate transaction order within blocks for maximum profit. The prosecution argues the defendants misrepresented themselves as honest validators, enabling the exploit. The defense claims victims were “sandwich bots.” If convicted, the brothers could face up to 20 years in prison for each count. Magazine: Grokipedia: ‘Far-right talking points’ or necessary Wikipedia competitor? Source: Inner City Press.

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Bitcoin hits new all-time high of $63,000 as investors flock to the digital currency. The surge comes amid increased institutional interest and growing mainstream acceptance of cryptocurrencies. Experts predict further growth as Bitcoin continues to gain traction as a legitimate asset class.: Coin Center Files Brief in MEV Bot Case after Prosecutors’ Opposition