TechFlow reports, July 11: According to Bloomberg Law, the U.S. Department of Justice plans to drop all criminal charges against Matthew Goettsche, the alleged mastermind behind BitClub Network, reversing the 2019 indictment decision. Goettsche was charged with conspiracy to commit wire fraud and selling unregistered securities; the BitClub Network he operated attracted investors under the guise of "mining pool dividends," but actually fabricated returns and is suspected of defrauding investors of over $722 million.
The case was originally scheduled for trial in October this year, but the Office of the Deputy Attorney General recently ordered the U.S. Attorney's Office for the District of New Jersey to terminate the prosecution via "dismissal with prejudice," while still seeking to recover some investor losses. Analysts point out that this move is the latest case of the Trump administration significantly scaling back cryptocurrency enforcement actions—both Trump himself and Acting Attorney General Todd Blanche hold crypto assets, sparking external questions about conflicts of interest. Previously, three co-defendants had pleaded guilty successively, while Goettsche's case was delayed for nearly 7 years due to evidence review of approximately 2 million electronic records and multiple breakdowns in plea negotiations.
