Daniel Schatt, former CEO of the crypto lending platform Cred, has been sentenced to 52 months in federal prison for his role in a $150 million fraud scheme. Former CFO Joseph Podulka received a 36-month sentence. Both were fined $25,000. The executives pleaded guilty in May, admitting to concealing the company's financial troubles before the 2020 market crash and transferring over 80% of customer assets into high-risk loans with affiliated companies, resulting in losses for approximately 440,000 users.