l on the backs of idiots,  according to the indictment.

Bitcoin mining is a process that requires  miners  to use computers to solve complicated math problems to be rewarded with newly minted bitcoin.

MINNESOTA BANS CRYPTO ATMs AFTER SCAM SURGE

BitClub Network, as others were doing at the time, purported to pool investors money together to buy hardware and computer chips to build a better mining system. The idea was to then distribute the profits.

Prosecutors argued that BitClub Network reported fake profits and misled their investors.

 Real stats on fake numbers,  Goettsche said in a January 2015 message to a colleague that was included in the indictment.  We will slowly introduce real numbers. 

The indictment, which charged Goettsche with conspiracy to commit wire fraud and selling unregistered securities, was returned during the first Trump administration, and three of Goettsche's co-defendants pleaded guilty.

The second Trump administration has been much more friendly to crypto, and Donald Trump's family has its own crypto ventures. The House of Representatives also passed the Clarity Act last year, the first attempt by Congress to provide an updated framework to regulate crypto.

Fox News Digital reached out to Goettsche's defense attorneys for comment.