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Foresight News reported, according to Decrypt, that two MIT graduate Peraire-Bueno brothers stood trial in Manhattan federal court on October 15. They are accused of exploiting a vulnerability in the Ethereum blockchain in April 2023 to steal $25 million worth of cryptocurrency in just 12 seconds. Prosecutors have charged them with conspiracy, wire fraud, and money laundering, each carrying a maximum sentence of 20 years in prison. The defense insists that this was merely a strategic move in an unregulated crypto market, not a crime. The core dispute in the case is whether code alone can constitute fraud, and whether criminal intent can be proven without direct victim interaction. The trial is expected to continue until early November.

Jinse Finance reported that the board of directors of cryptocurrency mining company Core Scientific (CORZ.O) is urging shareholders to vote in favor of the company’s proposed deal to sell to AI infrastructure company CoreWeave (CRWV.O), believing the transaction will bring multiple benefits to the company. In July, CoreWeave announced plans to acquire Core Scientific in an all-stock deal valued at approximately $9 billion, with a valuation of $20.40 per share. However, the deal has been opposed by Core Scientific’s largest shareholder, Two Seas Capital, which holds about 6.3% of the shares and claims the transaction “seriously undervalues” the cryptocurrency mining company. In an investor presentation on Wednesday, Core Scientific’s board stated it had “unanimously determined” that the deal represents the best option for all shareholders. The board said the merged company would benefit from multiple potential cost savings and synergies, while also reducing Core Scientific’s growth risks.