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‘Bitcoin Jesus’ Roger Ver settles U.S. tax evasion charges in $49.9 million deal

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Roger Ver, the early cryptocurrency investor known as “Bitcoin Jesus,” has reached a $49.9 million settlement with the U.S. Department of Justice (DOJ) to resolve allegations of mail fraud and tax evasion, according to a court filing on Tuesday.

Ver entered a deferred prosecution agreement in federal court in Los Angeles that will allow him to avoid prison time if he complies with the deal’s conditions. The arrangement, which comes under the Trump administration, provides that the indictment will be dismissed after one month, provided Ver abides by the agreement. The settlement covers his tax liability, civil penalties, and interest owed to the Internal Revenue Service (IRS).

The case accused Ver, 46, of evading at least $48 million in taxes following his 2014 decision to renounce U.S. citizenship after becoming a citizen of St. Kitts and Nevis. He was arrested in Spain in April 2024 and later extradited to the U.S. The DOJ alleged that Ver concealed ownership of significant bitcoin holdings and failed to pay exit taxes required under federal law.

Ver was represented by Christopher Kise, a lawyer who has also represented Donald Trump, while the DOJ’s lead official on the case, Ketan Bhirud, previously represented Ivanka Trump in private litigation.

In a statement, Ver said he was “grateful this case has been dismissed” and thanked the administration for its “leadership and professionalism.” A vocal libertarian and former Bitcoin.com CEO, Ver became one of the earliest advocates of cryptocurrency adoption, earning his moniker for his evangelical promotion of bitcoin in its early years.

Law Firm Dechert Says Lawsuits Over Alleged Use of Hired Hackers Have Been Resolved

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Philadelphia-based law firm Dechert announced on Thursday that two U.S. lawsuits accusing it of employing hired hackers to gain courtroom advantages have been resolved without any admission of liability.

The lawsuits stem from claims made by aviation executive Farhad Azima, who in 2022 filed suit in federal court in Manhattan against Dechert, U.S. public relations professionals, and a private investigator. Azima alleged they orchestrated the hacking and leaking of his emails. A related lawsuit was also filed in North Carolina against private investigator Nicholas Del Rosso with similar allegations.

While Dechert had settled with Azima last year, proceedings against other defendants—including Israeli private investigator Amit Forlit, lawyer Amir Handjani, and New York PR firm Karv Communications—continued until recently. Legal documents indicate that motions to dismiss both the New York and North Carolina lawsuits with prejudice were filed late Wednesday.

Azima expressed satisfaction with the outcome, stating, “I am thrilled and feel vindicated.” However, neither Azima, Dechert, nor the other parties disclosed details of the resolution or whether any new settlements were reached.

Dechert, Handjani, Karv, and Karv’s president Andrew Frank released identical statements confirming that all claims have been resolved without any admission of liability. Representatives for Del Rosso and Forlit did not respond to requests for comment.

Azima was previously found liable for fraud by a London court in 2020, a case heavily influenced by leaked private emails. He later accused Dechert—then representing a Middle Eastern investment fund involved in the case—of facilitating the email leaks. Following a Reuters investigation into email hacking linked to court cases, Azima successfully had his UK judgments overturned.

Forlit, accused by Azima as a key conspirator, is currently contesting extradition to the U.S. on separate cybercrime charges and has denied involvement in hacking.

Ripple Labs Settles with SEC, Pays Reduced $50 Million Fine

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Ripple Labs has reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding a civil lawsuit over the sale of unregistered securities. The settlement stipulates that Ripple will pay $50 million of the previously imposed $125 million fine, marking a significant resolution in one of the SEC’s most high-profile cryptocurrency cases. The settlement signals a potential shift in the SEC’s approach to regulating the cryptocurrency industry.

Settlement Details and Legal Outcomes

Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the settlement in a post on X, stating that the SEC will retain $50 million of the $125 million fine imposed by U.S. District Judge Analisa Torres in August. This amount will be held in escrow, accruing interest. The settlement is contingent on approval by both the SEC and Judge Torres. Ripple emphasized that the settlement does not involve an admission of wrongdoing on the company’s part.

The SEC declined to provide any comment on the settlement.

Implications for Ripple and the Cryptocurrency Industry

This settlement follows the SEC’s decision to drop its appeal of Judge Torres’ ruling from July 2023, which determined that XRP, the token sold by Ripple on public exchanges, does not meet the legal definition of a security. However, Ripple had initially appealed another part of Torres’ decision, which ruled that $728 million worth of XRP sales to institutional investors should have complied with securities laws. Alderoty announced that Ripple will now cease this appeal.

XRP remains the fourth-largest cryptocurrency by market value, trailing behind Bitcoin, Ethereum, and Tether.

Broader Regulatory Context

The settlement comes amid broader regulatory shifts in the U.S. cryptocurrency industry, especially since the return of President Donald Trump to the White House. The SEC has closed civil lawsuits against major crypto exchanges, including Coinbase and Kraken, and has signaled that it may resolve a civil fraud case against Chinese entrepreneur Justin Sun, who is also an adviser to a Trump-backed crypto project.

Furthermore, President Trump nominated Paul Atkins, a Washington lawyer with a history of supporting the crypto industry, to head the SEC. Atkins’ confirmation hearing before the U.S. Senate is scheduled for Thursday, potentially influencing the future regulatory landscape for cryptocurrencies.

Conclusion

Ripple’s settlement with the SEC and the reduced fine marks a significant moment in the ongoing regulatory scrutiny of the cryptocurrency market. The case has set a precedent for how the SEC may handle future disputes with crypto firms. As the SEC shifts its stance, the regulatory environment for the cryptocurrency industry may see further changes in the near future.