Bitcoin News Thebittimes.Com

An ex-takeaway worker living in the UK has been found guilty of laundering funds for a Chinese fraudster and managing over £2 billion ($2.5 billion ) in Bitcoin that has now been seized by police.   The Crown Prosecution Service (CPS) announced Jian Wen’s conviction at Southwark Court on Wednesday. It noted that the 42-year-old was guilty of one of three money laundering charges.  Wen had reportedly lived a ‘modest lifestyle’ in Leeds before meeting Yadi Zhang, real name Zhimin Qian. Zhang is a Chinese national and a wanted fugitive accused of making $6 billion in Bitcoin through scamming nationals in China.   The two moved to London and bought a six-bedroom manor house in 2017. They reportedly claimed to be international jewelers with Wen acting as a ‘front person.’ Zhang gave Wen 3,000 bitcoins, worth £15 million at the time and Wen helped convert it into various luxury items, cash, and property to disguise the true source of the funds. ...

Join Our Telegram channel to stay up to date on breaking news coverage The founder of FTX, Sam Bankman-Fried, has pled not guilty to all the charges facing him because of the collapse of his crypto empire FTX. The US District Judge Lewis Kaplan has also set a tentative date for trial to commence in early October. SBF pleads not guilty SBF was arraigned at the Manhattan courthouse on January 3. He is being accused of multiple counts of fraud and campaign finance violations. At the opening of the hearing, SBF”s lawyer said that his client would be taking the “not guilty ” plea. The plea was expected, according to an earlier report by Reuters. SBF appeared in a US court on Tuesday for the second time. He first appeared in court late last month when he was granted a $250 million bail bond. The bond spared SBF from spending time in prison as the trial continued. He was placed under house arrest at his parents’ home in California. In the January 3 hearing...