An Interview with Arthur Hayes and Ben Delo of Bitcoin Exchange BitMEX
Two energetic entrepreneurs sit at the crossroads of finance, cryptocurrency, banking, securities, and technology. I had the good fortune to meet Messrs Hayes and Delo at the Bitcoin Mercantile Exchange (BitMEX.com)’s Hong Kong office on February 21, 2017. We spoke for about three hours and then I joined Ben Delo for dinner at the Bitcoin HK meetup group. Over the next couple of days, I executed a trade with a lot of help from Delo. My two-day experiment with cryptocurrency derivative trading exposed some of the opportunity and peril of a new financial age. BitMEX’ progress is nothing....
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Legal issues with crypto exchange Bitmex’s cofounders still make the headlines. Benjamin Delo surrendered to the U.S. authorities, and Arthur Hayes agreed to make the same maneuver in April. Delo Released on a $20M Bail Bond According to Bloomberg, Bitmex’s cofounder Benjamin Delo traveled from the U.K. to the United States and pleaded not guilty before U.S. Magistrate Judge Sarah L. Cave. However, he was later released after posting a $20 million bail bond. Per the release terms, Delo was allowed by the judge to return to the United Kingdom. Still, he is set to face a court....
To some who have just skimmed the headlines around the BitMEX exchange, the legal activity and allegations around the firm seem a bit overblown. It seems like just yesterday, people were happily trading on the platform. Then all of a sudden, some of the top players, Arthur Hayes and Benjamin Delo et. al., are in handcuffs. What happened? An indictment filed by prosecutors in the Southern District of New York against BitMEX CEO Arthur Hayes […]
A civil lawsuit has been filed against the firm HDR Global Trading Limited, the parent company of the exchange Bitmex, alongside the three cofounders Arthur Hayes, Ben Delo, and Samuel Reed. Plaintiffs allege “the defendants’ Hayes, Delo, and Reed looted about $440,308,400 of proceeds of various nefarious activities.” The cryptocurrency derivatives platform Bitmex is facing a lawsuit that claims the exchanges three cofounders “looted” $440 million from the platform. BMA LLC, Vitaly Dubinin, and Yaroslav Kolchin have filed the lawsuit against the popular crypto....
Bitmex co-founder Arthur Hayes is not going to prison for violating the U.S. Bank Secrecy Act. Instead, the former crypto exchange CEO has been sentenced to “six months of home detention and two years of probation.” Hayes has agreed to pay a fine of $10 million.
Bitmex’s Arthur Hayes Sentenced
The U.S. Department of Justice (DOJ) announced Friday that the founder and former CEO of cryptocurrency derivatives exchange Bitmex has been sentenced for violating the Bank Secrecy Act (BSA). Hayes pleaded guilty to violating the Bank Secrecy Act in February.
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Arthur Hayes and Benjamin Delo will each have to pay a fine for their part in flouting the Bank Secrecy Act and operating what the DOJ called a “money laundering platform.” The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ).American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is a Seychelles-based....