The US releases Alexander Vinnik, founder of BTC-e, in a prisoner exchange with Russia. Trump continues his pro-crypto policy.
Donald Trump recently announced a prisoner swap deal with Russia, exchanging BTC-e founder Alexander Vinnik for a teacher.
Vinnik also admitted guilt to a $14 million fraud in Russia and is expected to face additional years of imprisonment in his country.
Although the Trump administration has loosened regulations on cryptocurrencies, the policies continue to have limits.
Trump exchanges the founder of a crypto exchange with a teacher
Alexander Vinnik founded BTC-e in 2011 and has since faced numerous difficulties. His exchange was shut down due to allegations of illegal activity and cybercrime, leading to his arrest in 2017. According to the New York Post, Donald Trump is now sending Vinnik back to Russia.
CNNNew York Post reporter Zachary Cohen commented on the news, stating:
"We now know what Russia got in this deal. Accused Russian money launderer Alexander Vinnik is released from US custody in exchange for Marc Fogel."
We now know what Russia received in this deal ...
Accused Russian money launderer Alexander Vinnik is being released from US custody in exchange for Marc Fogel, per @jmhansler & @snlyngaas.
Vinnik is accused of running a multibillion-dollar cryptocurrency exchange that... https://t.co/d1djuIhM9u
According to sources, Trump included Vinnik in a prisoner swap deal. In return, teacher Marc Fogel was returned to the United States.
Fogel had been arrested in Russia in 2022 with 17 grams of marijuana, receiving a 14-year prison sentence.
Vinnik has been involved in constant legal battles. After his arrest in 2017, he was extradited to France to face charges, then sent back to the United States in 2022. In addition to the money laundering case, US authorities charged him with additional crimes in 2024, leading him to plead guilty to all charges.
"We think this is a very fair deal. We are not trading the 'Merchant of Death' for a basketball player. Vinnik is currently being held in Northern California, awaiting transfer to Russia," White House officials said.
On the surface, the deal on Vinnik seems consistent with Trump's pro-crypto stance. However, Russian authorities demanded his extradition after he confessed to Russian police that he had committed computer fraud totalling $14.6 million.
Last month, President Trump also pardoned Ross Ulbricht, founder of Silk Road, after 10 years in prison, attracting the attention of the crypto community.
This shows that the exchange has no direct links to the crypto sector, but was entirely focused on Fogel's repatriation. The latter has now returned to the US, visited the White House and publicly thanked Trump for his intervention. Meanwhile, Vinnik remains detained in California awaiting transfer.
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Donald Trump recently announced a prisoner swap deal with Russia, exchanging BTC-e founder Alexander Vinnik for a teacher.
Vinnik also admitted guilt to a $14 million fraud in Russia and is expected to face additional years of imprisonment in his country.
Although the Trump administration has loosened regulations on cryptocurrencies, the policies continue to have limits.
Trump exchanges the founder of a crypto exchange with a teacher
Alexander Vinnik founded BTC-e in 2011 and has since faced numerous difficulties. His exchange was shut down due to allegations of illegal activity and cybercrime, leading to his arrest in 2017. According to the New York Post, Donald Trump is now sending Vinnik back to Russia.
CNNNew York Post reporter Zachary Cohen commented on the news, stating:
X
According to sources, Trump included Vinnik in a prisoner swap deal. In return, teacher Marc Fogel was returned to the United States.
Fogel had been arrested in Russia in 2022 with 17 grams of marijuana, receiving a 14-year prison sentence.
Vinnik has been involved in constant legal battles. After his arrest in 2017, he was extradited to France to face charges, then sent back to the United States in 2022. In addition to the money laundering case, US authorities charged him with additional crimes in 2024, leading him to plead guilty to all charges.
On the surface, the deal on Vinnik seems consistent with Trump's pro-crypto stance. However, Russian authorities demanded his extradition after he confessed to Russian police that he had committed computer fraud totalling $14.6 million.
Last month, President Trump also pardoned Ross Ulbricht, founder of Silk Road, after 10 years in prison, attracting the attention of the crypto community.
This shows that the exchange has no direct links to the crypto sector, but was entirely focused on Fogel's repatriation. The latter has now returned to the US, visited the White House and publicly thanked Trump for his intervention. Meanwhile, Vinnik remains detained in California awaiting transfer.