Sarah Tran
Independent Analyst
- After six months of negotiations, the former BitMEX CEO surrenders to US authorities.
- Arthur Hayes appeared before a federal judge in Hawaii.
- The former BitMEX executive is released on a $10 million bond, awaiting future court proceedings in New York.
The former CEO of the crypto derivatives exchange BitMEX has surrendered to United States authorities in Hawaii.
Arthur Hayes released on $10M bond
Six months after federal prosecutors first charged former BitMEX CEO Arthur Hayes, the resident of Singapore has shown up in Hawaii to defend against his charges. Hayes was one of the few BitMEX executives who were charged with violating and conspiring to violate the Bank Secrecy Act by the Department of Justice and the Commodity Futures Trading Commission.
Hayes appeared in court on March 6 to fight the charges. His lawyer stated:
Arthur Hayes is a self-made entrepreneur who has been wrongly accused of crimes he did not commit. Mr. Hayes voluntarily appeared in court and looks forward to fighting these unwarranted charges.
After the US government unsealed Hayes’ indictment in October 2020, the former BitMEX CEO has been in talks with the authorities since. Hayes’ lawyers proposed his surrender in Hawaii last month, while a potential release on a $10 million bail bond was also discussed.
Pursuant to this earlier agreement, after Hayes appeared before a federal judge in Honolulu, he was released with the retention of a passport for travel between Singapore and the United States. A waiver of extradition was agreed upon by both parties.
A civil suit was filed against BitMEX and its founders on October 1, 2020, for operating an unregistered trading platform, while the company also failed to implement required anti-money-laundering procedures. The other BitMEX executives, including Ben Delo, Sam Reed, and Gregory Dwyer, were also charged.
Ben Delo has pleaded not guilty after surrendering to US authorities in New York and was released on a $20 million bail bond pending trial. Reed was arrested on the day the charges were revealed in Massachusetts. However, Dwyer still remains at large.
According to Dwyer’s lawyers, they have been in touch with the government on behalf of the defendant, informing them of his whereabouts. The lawyers added that Dwyer “has every intention to defend himself in court against these meritless charges and is eager to do so."
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?