Key Takeaways
- President Trump pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed.
- The co-founders of BitMEX were indicted in 2020 for violating the Bank Secrecy Act.
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President Donald Trump on Thursday issued pardons to BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, according to a new report from CNBC.
The trio launched BitMEX in 2014, with Hayes serving as CEO. Based in the Seychelles, the exchange became one of the leading platforms for trading crypto derivatives, focusing on perpetual contracts and futures.
In October 2020, the co-founders were indicted by US authorities for violations of the Bank Secrecy Act, accused of failing to implement anti-money laundering measures. Each of them pleaded guilty and was fined $10 million.
Hayes, who became one of the youngest African-American crypto billionaires, led BitMEX as CEO. Delo, a British national, was responsible for developing the exchange’s trading engine, while Reed served as CTO. Their leadership roles ended in 2020 due to legal complications, with Vivien Khoo stepping in as interim CEO.
This is a developing story.
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