John Louis Anthony Bigatton, an Australian man and national promoter for the now-defunct crypto exchange Bitconnect, has pleaded guilty to promoting crypto lending services without holding an Australian Financial Services license. Bitconnect, accused of defrauding victims of over $2.4 billion, allegedly operated as a Ponzi scheme, promising high returns to investors who couldn't withdraw their money until the lending period ended. The platform shut down in 2018, with founders disappearing with investors' funds. A sentencing hearing for Bigatton is scheduled for July 5.