US court ordered BitMEX founders to pay $30 million
Arthur Hayes, Benjamin Delo, and Samuel Reed each must pay a fine of $10 million
06.05.2022 - 11:55
384
1 min
0
What’s new? On May 5, the US District Court for the Southern District of New York ruled that co-founders of the BitMEX cryptocurrency derivatives exchange Arthur Hayes, Benjamin Delo, and Samuel Reed must pay a fine of $30 million. The court also warned the three founders against further violations of the Commodity Exchange Act (CEA) and the Commodity Futures Trading Commission (CFTC) rules.
Court’s ruling on the CFTC’s website
What preceded it? The US Court’s ruling is based on a complaint filed by the CFTC on October 1, 2020, against the BitMEX platform and its three founders. Hayes, Delo, and Reed were accused of failing to comply with anti-money laundering (AML) measures, violating know your customer (KYC) procedures, as well as operating illegally in the United States, and violating the Bank Secrecy Act.
On February 24, 2022, Arthur Hayes and Benjamin Delo pleaded guilty to willfully violating the Bank Secrecy Act by failing to set up an anti-money laundering system. On March 9, Samuel Reed joined the other co-founders of BitMEX, also pleading guilty.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 019
BTC
+2.04%
-
Ethereum
$3 313.61
ETH
-0.24%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.48
XRP
+32.73%
-
Dogecoin
$0.405154
DOGE
+5.9%
-
Cardano
$0.968807
ADA
+22.88%
-
Bitcoin Cash
$488.37
BCH
+1.63%
-
Polkadot
$6.31
DOT
+9.03%
-
Stellar XLM
$0.29929
XLM
+25.89%
-
Litecoin
$90.44
LTC
+2.73%