{"id":22528,"date":"2025-03-29T10:28:24","date_gmt":"2025-03-29T08:28:24","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-pardons-bitmex-co-founders-reports-say\/"},"modified":"2025-03-29T10:28:24","modified_gmt":"2025-03-29T08:28:24","slug":"trump-pardons-bitmex-co-founders-reports-say","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trump-pardons-bitmex-co-founders-reports-say\/","title":{"rendered":"Trump Pardons BitMEX Co-Founders, Reports Say"},"content":{"rendered":"<p>U.S. President Donald Trump has pardoned three co-founders of the BitMEX exchange, according to <a href=\"https:\/\/www.cnbc.com\/2025\/03\/28\/trump-pardon-bitmex-crypto-exchange-money-laundering.html\">CNBC<\/a>.<\/p>\n<p>The individuals in question are company co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who were accused of violating the U.S. Bank Secrecy Act&#8217;s <span data-descr=\"know your customer\" class=\"old_tooltip\">KYC<\/span> and <span data-descr=\"anti-money laundering\" class=\"old_tooltip\">AML<\/span> requirements. Former BitMEX Head of Business Development Greg Dwyer, who was involved in the case alongside them, was also pardoned.<\/p>\n<p>Hayes expressed his gratitude to Trump on the social media platform X.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Thank you <a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Etfw\">@POTUS<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1905717739517587555?ref_src=twsrc%5Etfw\">March 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Delo also expressed appreciation to the president for the &#8220;full and unconditional pardon,&#8221; noting that the Justice Department&#8217;s actions against BitMEX and its employees were initially &#8220;unjust.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I and the other co-founders should never have been charged with a criminal offense under an unclear, outdated law. [\u2026] We were wrongfully used as an example, sacrificed for political reasons, and used to send inconsistent regulatory signals,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>Hayes, Delo, and Reed founded BitMEX around 2014. A year later, Gregory Dwyer joined the company as Head of Business Development.<\/p>\n<p>For a prolonged period, the exchange served U.S. clients and operated through offices in the country without registration with the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> and without implementing AML programs.<\/p>\n<p>According to law enforcement, the platform&#8217;s executives were aware of the legal violations. Moreover, they took steps to conceal the true nature of their activities from American banking institutions.<\/p>\n<p>Hayes and Delo pleaded guilty in February 2022, Reed reached a deal with authorities in March, and Dwyer followed suit in August.<\/p>\n<p>The co-founders were required to pay fines of $10 million each. Additionally, Hayes was sentenced to six months of house arrest and two years of probation, Delo received a 30-month probationary sentence, and Reed was given 18 months of probation.<\/p>\n<p>In January 2025, BitMEX operator HDR Global Trading Limited was <a href=\"https:\/\/forklog.com\/en\/news\/us-justice-department-fines-bitmex-100m-for-bank-secrecy-act-breaches\">fined<\/a> $100 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. President Donald Trump has pardoned three co-founders of the BitMEX exchange, according to CNBC. The individuals in question are company co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who were accused of violating the U.S. Bank Secrecy Act&#8217;s KYC and AML requirements. Former BitMEX Head of Business Development Greg Dwyer, who was involved in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1292,1193,788,991,26],"class_list":["post-22528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aml-kyc","tag-arthur-hayes","tag-bitmex","tag-donald-trump","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22528"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22527"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}