Technical director of the BitMEX crypto-derivatives exchange Samuel Reed was released on bail of $5 million.
On October 1 Reed was arrested on charges by the U.S. Department of Justice of violating the Bank Secrecy Act and “willful evasion of implementing robust anti-money-laundering measures at BitMEX”.
Samuel Reed by ForkLog on Scribd
On October 3, Reed agreed to appear at proceedings connected to him and, if convicted, to serve a sentence. According to The Block, the hearing took place on October 1 in an online format.
The $5 million bond is unsecured. Only $500,000 was paid in cash. It is believed that Reed and his wife also had their passports seized.
In addition to the 31-year-old Reed, similar charges were brought against his colleagues — Arthur Hayes, Benjamin Delo and Gregory Dwyer.
On October 8 BitMEX announced a leadership change. Arthur Hayes and Samuel Reed stepped down from the posts of CEO and CTO of the exchange operator 100x Group, respectively. Greg Dwyer, head of business development, took leave.
Following BitMEX’s regulatory troubles, the analytics firm Chainalysis classified the exchange as a high-risk platform.
Earlier ForkLog reported that the BitMEX case could signal the United States’ intent to take control of the entire crypto market.
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