Bitcoin launderer apprehended after attempting to purchase luxury properties
London’s Southwark Crown Court sentenced Jian Wen, a British-Chinese woman, to six years and eight months in prison on May 24. Wen was involved in laundering more than $1 million worth of Bitcoin (BTC) linked to a $6.3 billion fraud in China. Her attempt to buy multimillion-dollar properties in London raised suspicions when a local law firm asked her Know Your Customer (KYC) questions. Wen was convicted in March for her role in a money laundering arrangement. She laundered Bitcoin for her former boss, Yadi Zhang, who claims she is innocent. Wen was not accused of being part of the original fraud, according to the Financial Times.
Ross Ulbricht expresses gratitude to Trump for promise of pardon
Ross Ulbricht, the imprisoned founder of the Silk Road online black market, has expressed his appreciation to Donald Trump for promising to commute his sentence if reelected. Ulbricht, who has already served ten years of his life sentence with no parole, thanked Trump for his pledge in a May 26 post. Ulbricht’s family manages his account and he dictates his posts from prison.
Coinbase expands its lobbying efforts to the UK
Coinbase’s crypto advocacy nonprofit, “Stand with Crypto,” has officially expanded its operations to the United Kingdom. In a blog post on May 24, Coinbase announced the launch of its British arm, which held a launch event at the UK Parliament. The event was attended by approximately 100 individuals from the crypto industry, including workers, investors, academics, and members of the media. Coinbase identified the UK as its largest international market, with over 6 million crypto holders.
In other news:
– Bitcoin miner Marathon Digital has partnered with Kenya’s Energy Ministry to harness underutilized energy for mining rigs.
– Professional footballer Cristiano Ronaldo has released his fourth nonfungible token (NFT) collection with Binance, despite facing a class-action lawsuit in Florida over his previous collections.
– UK cannabis millionaire conducts legal transactions through crypto using mobile platforms.