In a significant diplomatic move, President Trump announced a prisoner exchange with Russia, trading BTC-e founder Alexander Vinnik for American school teacher Marc Fogel.

Vinnik, who pleaded guilty to conspiracy to commit money laundering in 2024, had been held in custody in California until his release.

Fogel was returned to the U.S. on February 11, 2025, which the White House hailed as a positive development that could aid negotiations regarding Ukraine.

US Vice President JD Vance has warned of potential sanctions and military action against Russia if a peace deal ensuring Ukraine's independence is not reached.

White House officials emphasized that the exchange was fair, asserting they are not trading a dangerous criminal for a lesser individual.

Vinnik has denied charges of extortion, claiming he was merely a technical operator for BTC-e and not the leader of the organization.

Vinnik's partner, Aleksey Bilyuchenko, remains on the US Secret Service's most-wanted list for his involvement with BTC-e.

A U.S. official clarified that this exchange should not be compared to the previous swap of WNBA star Brittney Griner for arms dealer Viktor Bout.

Negotiations for Vinnik's inclusion in a US-Russia prisoner exchange had previously been attempted in August 2024 but were unsuccessful.

Russian spokesperson Peskov acknowledged that while such agreements may not be game-changers, they could help build mutual trust between the U.S. and Russia.

As part of the agreement, Vinnik will leave behind $100 million worth of digital assets in the United States.

This exchange marks a departure from previous practices, where identities were revealed simultaneously during prisoner swaps.