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The trial was set for late January, and I was curious about how Mashinsky would approach it. Mashinsky is sort of your classic conman, relying on his charisma and ability to talk in circles to pass off his often highly exaggerated pronouncements, if not blatant lies — like claiming to have invented decentralized finance, VoIP, and Uber.3 The combination of mendacity and narcissism reminds me of Sam Bankman-Fried, who remained convinced of his ability to talk his way out of his fraud charges until — and perhaps after — his conviction and sentencing. Their similarities made me wonder if Mashinsky might also take the stand in his own defense. Mashinsky seems to have proven more willing than Bankman-Fried to listen to the advice of his lawyers, and agreed to this plea deal soon after failing to have two of the charges against him dismissed before trial [I70]. In exchange for a guilty plea to two of the seven charges, commodities fraud and securities fraud, he will forfeit $48 million and face a maximum sentence of 30 years in prison — though he’s likely to get less.