Share this article
Reginald Fowler Rejects Plea Deal in Crypto 'Shadow Bank' Case
Reginald Fowler has rejected a plea deal with the U.S. government in an ongoing case that accuses him of operating "shadow bank" services tied to crypto exchanges.
By Wolfie Zhao
Updated Sep 13, 2021, 12:14 p.m. Published Feb 3, 2020, 8:00 a.m.
Reginald Fowler, a former investor of the U.S. National Football League team Minnesota Vikings, has rejected a plea deal with the U.S. government in an ongoing case that accuses him of operating "shadow bank" services tied to crypto exchanges.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to a letter submitted by the prosecutor of the case on Jan. 31, Fowler "rejected the current plea offer" on Jan. 30 and the U.S. government "has formally withdrawn that offer." As such, the parties will move to trial as scheduled on April 28.
Fowler was indicted in April 2019, along with Israeli national Ravid Yosef, by the U.S. government for allegedly, among other charges, running "shadow bank" services that are tied to Crypto Capital.
Crypto Capital is a payment processing firm that has facilitated fiat currency onramps for several crypto exchanges including Bitfinex, Kraken and the now-defunct QuadrigaCX, among others.
The payments firm is also involved in another ongoing case filed by the New York Attorney General against Bitfinex and its sister company Tether, which accused the two of using a secret loan to cover a loss that Bitifnex alleged was caused by Crypto Capital.
It was reported in December that Fowler was initially expected to plead guilty to at least some of the charges. According to a Bloomberg report on Feb. 1, the plea deal was for Fowler to admit to one single felony if he would forfeit as much as $371 million.
Read the U.S. Attorney's letter below:
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
