Charles Shrem (born November 25, 1989) is an American entrepreneur and cryptocurrency advocate. In 2011 he co-founded company BitInstant. Shrem is a founding member of the Bitcoin Foundation.
In December 2014 he was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road marketplace. He was released from jail around June 2016. In 2017, he joined Jaxx as its director of business and community development. Later that year, he founded cryptocurrency advisory CryptoIQ.
Charlie Shrem was born in New York. He graduated from Yeshivah of Flatbush, a Modern Orthodox private Jewish day school located in the Midwood section of Brooklyn, New York. In 2012, he graduated with Bachelor of Science in Economics and Finance from Brooklyn College.
Career and activity in cryptocurrency field
In 2011, Charles got interested in Bitcoin and started his investment but he lost his money after service crashed. Then he and his friend Gareth Nelson founded BitInstant, the service that charged users a fee to speed up their transactions. The project got Roger Ver’s investment which was $125,000. BitInstant was a successful project until its closure in 2013.
Shrem is a founding board member of the Bitcoin Foundation, founded in 2012 with a mission to standardize and promote bitcoin. He was actually a chairman until he was arrested on 24, January 2014. He was accused of laundering money $1 million worth in BTC and for suspicious activity in the financial area. He was released in 4 days on $1 million bail. He must live with his parents.
On September 4, 2014, he pleaded guilty to a reduced charge of aiding and abetting unlicensed money transmission. He was sentenced for 2 years and was released in June 2016.
In May 2017, Shrem joined Jaxx as its director of business and community development. The multi-platform blockchain cryptocurrency wallet developed by Decentral enables users to control their digital assets
In May of 2019, Charlie launched his podcast Untold Stories.
Now he is Business Development Advisor in Changelly.