The US Department of Justice plans to drop charges against a BitClub founder for allegedly participating in a $722 million crypto scam.

ForesightNewsJul 11, 2026
According to Bloomberg, the US Department of Justice plans to drop charges against BitClub Network founder Matthew Goettsche. Goettsche was accused of operating a cryptocurrency Ponzi scheme involving $722 million and was scheduled to go to trial in October. Goettsche's legal team notified the judge on July 8 that both parties had reached an "agreement in principle" to resolve the outstanding charges.

The case has been delayed for seven years since the indictment in 2019, and three co-defendants have already pleaded guilty. Goettsche assembled a legal team with ties to the Trump administration for lobbying, including Florida lawyer Bradford Cohen, who appeared on "The Apprentice," and Brett Tolman, who has helped clients obtain presidential pardons. A DOJ spokesperson stated the decision was unrelated to the lawyers' pressure, that the case had been ongoing for seven years, and that the government was recovering funds from large investors. The case is the latest example of the Trump administration's scaling back of crypto enforcement actions.

[Foresight News]

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The US Department of Justice plans to drop charges against a BitClub founder for allegedly participating in a $722 million crypto scam.

ForesightNewsJul 11, 2026
According to Bloomberg, the US Department of Justice plans to drop charges against BitClub Network founder Matthew Goettsche. Goettsche was accused of operating a cryptocurrency Ponzi scheme involving $722 million and was scheduled to go to trial in October. Goettsche's legal team notified the judge on July 8 that both parties had reached an "agreement in principle" to resolve the outstanding charges.

The case has been delayed for seven years since the indictment in 2019, and three co-defendants have already pleaded guilty. Goettsche assembled a legal team with ties to the Trump administration for lobbying, including Florida lawyer Bradford Cohen, who appeared on "The Apprentice," and Brett Tolman, who has helped clients obtain presidential pardons. A DOJ spokesperson stated the decision was unrelated to the lawyers' pressure, that the case had been ongoing for seven years, and that the government was recovering funds from large investors. The case is the latest example of the Trump administration's scaling back of crypto enforcement actions.

[Foresight News]

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