Judge denies bail for Bitcoin Rodney, citing flight risk and severity of fraud

Rodney Burton, also known as "Bitcoin Rodney," will continue to be detained and await trial on charges of planning a multi-billion-dollar cryptocurrency fraud. Burton was arrested at Miami International Airport in January and faces charges of conspiring to operate an unlicensed money transmitting business and actually operating such a business. US District Judge Richard Bennett on Tuesday denied Burton's bail request, citing significant flight risk. Last month, Burton requested release under strict high-intensity supervision, but prosecutors argued that he was deeply involved in a Ponzi scheme. They provided evidence of a recorded phone call in which Burton allegedly discussed plans to move to Dubai to continue cryptocurrency activities, despite realizing that this could harm others. The indictment details multiple illegal financial transactions. Judge Bennett emphasized the seriousness of the alleged $2 billion fraud case and Burton's previous conviction for conspiring to distribute cocaine, which further confirmed the decision to deny bail. The trial date has not yet been set.