BitMEX Mastermind Arthur Hayes Pleads Guilty, Avoids Jail Time
The picture is getting clearer for BitMEX co-founder Arthur Hayes. The judge called what he did “a willful violation of the Bank Secrecy Act,” but he still got two years probation. Hayes will serve the first six months of that sentence in home confinement, but that’s it. The banker and entrepreneur will not set foot in a cell. Why was anyone expecting otherwise, though? Related Reading | Arthur Hayes’ Crystal Ball Predicts: Bitcoin And Ethereum To See Carnage In June The top federal prosecutor in Manhattan, Damian Williams, commented in a statement that Hayes “allowed BitMEX to....
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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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Despite the imminent possibility of serving jail time, proactively owning up to the allegations resulted in Hayes being sentenced to six months of house arrest and two years of probation. Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes.Arthur Hayes, along with the other BitMEX co-founders — Benjamin Delo and Samuel Reed — and the company’s first....
Bitmex co-founder and cryptocurrency investor Arthur Hayes has addressed the current state of the market with the effect the U.S. Federal Reserve’s upcoming tapering process may have. Hayes also links this with the Evergrande situation in China and advises cryptocurrency newcomers to hold on until new signals emerge next year. Arthur Hayes Analyzes the Current Market Situation Former Bitmex CEO and cryptocurrency investor Arthur Hayes issued his opinion on what cryptocurrency investors should do in the context of the current market. In his latest digest, titled “Circo....
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 […]