The founder of Citron was convicted, using Twitter to manipulate stock prices and commit fraud; this case spanned two administrations.

CoinJie News reports that Andrew Leav, the founder of the short-selling firm Citron, was found guilty of securities fraud by a U.S. federal jury in a landmark trial. The trial focused on his alleged use of social media to manipulate stock prices. The verdict was announced on Monday in Los Angeles after two days of closed-door deliberations. Leav was accused of using “explosive” tweets targeting dozens of companies to illegally influence their stock prices in order to profit from them. Prosecutors said that between 2018 and 2023, he earned approximately $20 million from such trades. This ruling marks a victory for the U.S. Department of Justice in a white-collar crime case brought during the Trump administration, although the investigation actually began during the Biden administration.