币界网报道：A U.S. federal judge has sentenced Jeremy Spence, a cryptocurrency fraudster, to 97 months in prison for operating a $40 million Ponzi scheme. Spence, also known as "Coin Signals," pleaded guilty in January 2022 to commodities fraud after misleading investors with false claims of extraordinary returns from his crypto trading pools. Between November 2017 and April 2019, Spence solicited funds from over 170 investors, promising annual returns as high as 148%. Instead, he used new investor funds to pay earlier participants in classic Ponzi fashion while losing millions in unsuccessful trades. The scheme collapsed when Spence could no longer meet withdrawal requests. Prosecutors noted his lavish spending on personal luxuries, including a $20,000 watch. The sentence reflects the severity of his crimes, which caused significant financial harm to victims. The case highlights regulatory risks in the largely unregulated crypto space, with authorities increasingly cracking down on fraudulent schemes. Spence was also ordered to forfeit $5 million and pay restitution to victims. The judge emphasized the need for deterrence given the growing prevalence of crypto-related fraud.