The glamorous life Shrem had been building for the past two years suddenly seemed poised to fall apart.
BTCKing was a reseller, someone who bought bitcoins and resold them at a markup. His customers, however, were users of theAccording to the complaint, on January 17th, 2012, BTCKing tried to deposit $4,000 in cash on BitInstant in a single day. By then, awareness of money transmitter laws was growing within the Bitcoin community and a new attitude of caution was taking hold.
"He has not broken a law and Silk Road itself is not illegal," Shrem said in one email to his co-founder cited in the complaint."We also don't have any rules against resellers. We make good profit from him."The criminal complaint alleges that Shrem himself had bought drugs on Silk Road, which squares with the pothead lifestyle he boasted about to reporters."I won’t hire you unless I’ve either had a drink with you or smoked weed with you.
Charlie Shrem, right, exits Manhattan federal court with an unidentified person on Monday, January 27th, 2014, in New York.
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