Rodney Burton, known as 'Bitcoin Rodney,' pleaded guilty in federal court in Baltimore to conspiring to operate an unlicensed money-transmitting business linked to a $1.8 billion crypto fraud scheme involving HyperFund. Between June 2020 and January 2022, Burton promoted HyperFund, a platform that falsely promised daily returns of 0.5% to 1% from non-existent mining operations. He personally received over $7.8 million from the scheme, which funneled investor funds through a network of shell companies. Burton faces up to five years in prison, with sentencing set for July 23. The case is part of ongoing scrutiny of crypto investment platforms accused of defrauding investors. According to reports, Burton enlisted celebrities like Jamie Foxx and Rick Ross to boost his profile and hosted a Miami crypto conference in 2021 featuring Draymond Green, Jordan Belfort, Akon, and Tiffany Haddish.

Key facts

• Burton pleaded guilty to conspiracy to operate an unlicensed money-transmitting business.
• The scheme involved HyperFund, a $1.8 billion crypto fraud promising fake daily returns.
• Burton personally received over $7.8 million from the operation.
• He faces up to five years in prison; sentencing is July 23.
• Celebrities like Jamie Foxx and Rick Ross were used to promote the scheme.

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