‘Bitcoin Jesus’ Reaches $50 Million Deal With Department of Justice to Dismiss Tax Evasion Charges

Ver was a prominent figure in the early days of cryptocurrency, earning the nickname “Bitcoin Jesus” due to his habit of handing out coins. Bitcoin To random people he met. In 2011, he began investing in cryptocurrency, according to Initial indictmentIn March 2014, he controlled more than 130,664 bitcoins, which translates to more than $14.75 billion at current prices. In the same year, he renounced his American citizenship after becoming a citizen of the Caribbean nation of Saint Kitts and Nevis.

Although he was required to pay an exit tax on all of his property when he renounced his citizenship, Ver never paid tax on his bitcoin, as he admitted in the deferred plea agreement. Prosecutors said the capital gains tax owed from his cryptocurrency hoard amounted to about $17 million. His nearly $50 million settlement with the Department of Justice includes not only his tax liabilities, but also a civil penalty and unpaid interest.

Neither Fair’s lawyers nor Justice Department spokespeople immediately responded to a request for comment. the New York Times Firstly I mentioned regarding the Fair settlement last week before prosecutors filed in court on Tuesday.

“This decision sends a clear message: Whether you deal in dollars or digital assets, you must file accurate tax returns and pay what you owe,” Assistant Deputy Attorney General Ketan Beraud said in a statement.

Cryptocrime

Ver’s settlement with the Department of Justice is the latest sign of President Donald Trump stepping back from cryptocurrency crimes in his second term.

Shortly after taking office in January, Pres Sorry Ross Ulbricht, founder of Silk Road, an online black market for drugs and other illicit substances. Ulbricht was a cause célèbre among liberals because he created an online marketplace where anyone could buy anything. He was also a legendary figure in the cryptocurrency space, whose company Silk Road, which asked users to pay in bitcoin, helped push the cryptocurrency into the mainstream.

After pardoning Ulbricht, the Trump administration also signaled its lax stance on cryptocurrency enforcement It has been solved In April, the Department of Justice’s Cryptocurrency Unit, or NCET, established the National Cryptocurrency Enforcement Team.

And now, Changpeng Zhao, founder of the world’s largest cryptocurrency exchange, Binance It is said Pressing the Trump administration to obtain his own pardon. In 2023, the cryptocurrency mogul reached a settlement with the Department of Justice and pleaded guilty to failing to maintain an adequate anti-money laundering system. He spent four months in prison but still has a criminal record in the United States

Updated, October 14, 2025: This article has been updated to include comment from the Department of Justice.