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Former BitMEX CEO Hayes Surrenders to Face US Charges: Report
After appearing before a judge, Arthur Hayes was released on $10 million bond pending court proceedings in New York, Bloomberg reported.
Former BitMEX CEO Arthur Hayes surrendered to U.S. authorities in Hawaii to face charges he failed to take proper steps to safeguard the cryptocurrency exchange he co-founded from being used for money laundering, according to a published report.
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- Hayes surrendered six months after prosecutors in New York accused him and his BitMEX co-founders of conspiring to get past U.S. laws requiring the implementation of money-laundering controls, Bloomberg said in its report.
- Hayes was released on $10 million bond pending court proceedings in New York, the report said.
- According to court documents released last month, the surrender was planned for April 6.
- Last October, BitMEX and co-founders Hayes, Samuel Reed and Ben Delo were charged by the U.S. Department of Justice with violating the Bank Secrecy Act and conspiracy to violate the act.
- Each charge faces a maximum sentence of five years in prison.
Read more: Crypto Trading Platform BitMEX ‘Attempted to Evade’ US Regulations, CFTC, DOJ Charge
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
