BitMEX Founders Ordered By US Court To Pay $30 Million Fine For Illegal Crypt...
The brains behind BitMEX are in hot water. In conjunction with a lawsuit filed by the Commodity Futures Trading Commission in 2020, the U.S. District Court for the Southern District of New York ordered the co-founders of the cryptocurrency exchange to pay a $30 million fine. The CFTC asserted that Arthur Hayes, Samuel Reed, and […]
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The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each.
Bitmex’s Founders Fined $30 Million
The Commodity Futures Trading Commission (CFTC) announced Thursday that the U.S. District Court for the Southern District of New York has ordered Bitmex’s founders to pay a total of $30 million dollars “for illegally operating a cryptocurrency derivatives trading platform....
The three co-founders have been ordered to pay hefty fines for what the CFTC calls their involvement in serious violations of regulations and the Commodity Exchange Act. The U.S. District Court for the Southern District of New York has ordered a total of $30 million civil monetary penalties from the three co-founders of BitMEX crypto derivatives exchange, including former CEO Arthur Hayes.Hayes, Benjamin Delo, and Samuel Reed were each fined $10 million in consent payments according to a statement from the Commodity Futures Trading Commission (CFTC) at the conclusion of a court battle on....
Gregory Dwyer becomes the last one from the exchange’s management to enter a plea. Another top executive joins three co-founders of the crypto exchange BitMEX, pleading guilty in the United States District Court for the Southern District of New York. The court case under the headline "U.S. v. Hayes et al." goes on for two years, with BitMEX management being indicted for violating the U.S. Bank Secrecy Act. According to the Wall Street Journal, on Aug. 8, a one-time head of business development at BitMEX, Gregory Dwyer, admitted his guilt of violating the Bank Secrecy Act in court. As part....
The US Department of Justice said on Thursday that BitMEX founders had entered a guilty plea to charges of violating the Bank Secrecy Act by failing to set in place an anti-money laundering system. Benjamin Delo and Arthur Hayes, two of the co-founders, have agreed to each pay a $10 million fine as part of […]
BitMEX co-founder Samuel Reed pleaded guilty to anti-money laundering offenses and agreed to pay a $10 million fine, according to a statement from the US Attorney’s Office on Thursday. Reed is the exchange’s third founder to enter a plea agreement with US prosecutors. The news comes on the heels of other co-founders — Ben Delo […]