Former President Donald Trump has reportedly pardoned the three co-founders of the cryptocurrency exchange BitMEX. This includes well-known crypto investor Arthur Hayes.
BitMEX Founders Cleared
The CNBC report states that Trump pardoned Hayes, Benjamin Delo, and Samuel Reed. This comes nearly three years after they pleaded guilty to violating the Bank Secrecy Act. Their crime? Failing to implement proper anti-money laundering measures.
Prosecutors argued that BitMEX essentially operated as a money-laundering platform. They bypassed standard “Know Your Customer” (KYC) verification procedures, only requiring an email address and not verifying user identities. This allowed illegal activity on the platform from approximately 2014 to 2020.
Consequences and Aftermath
The trio received probation and hefty fines totaling tens of millions of dollars. BitMEX itself also pleaded guilty to violating the Bank Secrecy Act last year. At the time, U.S. Attorney Damien Williams warned that BitMEX’s actions posed a significant threat to the U.S. financial system, facilitating money laundering and sanctions evasion.
Disclaimer: This information is for news purposes only and not financial advice. Always do your own research before making investment decisions.
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