Former BitMEX Executives Receive Pardons from President Trump Following Felony Convictions
Three co-founders of the cryptocurrency exchange BitMEX have reportedly been granted pardons by U.S. President Donald Trump.
Arthur Hayes, Benjamin Delo, and Samuel Reed had pleaded guilty to multiple charges, including money laundering and violations of the Bank Secrecy Act.
According to a March 28 report from CNBC, Trump’s decision comes after the three men admitted to failing to implement adequate anti-money laundering procedures at BitMEX, which led to their criminal convictions. Hayes and Delo pled guilty in early 2022, followed by Reed a few weeks later.
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Although the White House has not officially commented on the pardons, and BitMEX did not respond to Cointelegraph’s request for a statement, the decision marks another controversial move by President Trump, who has issued numerous high-profile pardons since taking office.
The legal troubles for the BitMEX founders began in 2020 when U.S. authorities charged them with failing to comply with financial regulations. Hayes, who was CEO at the time, stepped down amidst the legal fallout. Though the trio was sentenced to home confinement or probation in 2022, they were also fined $30 million in civil penalties related to their actions.
This is not the first time Trump has granted pardons for those in the crypto world. His controversial pardoning decisions have also extended to figures such as Silk Road founder Ross Ulbricht and others involved in major legal cases.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
