Rodney Burton, famously known as “Bitcoin Rodney,” will remain in custody as he awaits trial for his alleged involvement in a massive cryptocurrency fraud worth billions of dollars. Burton was apprehended in January at Miami International Airport and now faces charges of orchestrating a Ponzi scheme by operating an unlicensed money-transmitting business. Despite his request for bail under strict supervision, U.S. District Judge Richard Bennett denied his release, deeming him a high-risk flight danger. Prosecutors presented evidence of a recorded phone conversation where Burton purportedly discussed plans to relocate to Dubai and continue his cryptocurrency operations, disregarding the potential harm inflicted on others. The indictment reveals a series of illicit financial transactions, further emphasizing the gravity of the $2 billion fraud. Judge Bennett underscored Burton’s previous convictions for conspiracy to distribute cocaine, solidifying the decision to deny bail. At present, no trial date has been set.
