• BitMEX Reed $5 million bail
    Cryptocurrencies,  Regulation

    BitMEX’s Samuel Reed released on $5M bail

    The cryptocurrency derivatives exchange’s CTO was one of four executives arrested on Oct. 1, when criminal and civil charges alleging insufficient money laundering protections were unsealed

    Under the terms of his bail, Reed had to put up $500,000 in cash. In addition, both he and his wife had to surrender their passports. He can only travel in New York, Massachusetts, and Wisconsin, with parole office approval.

  • Arthur Hayes indicted BitMEX
    Bitcoin,  Regulation,  United States

    Arthur Hayes out at BitMEX

    With its three co-founders under indictment for money laundering in the U.S., the Seychelles-based cryptocurrency derivatives exchange has dumped its leadership

    CEO Arthur Hayes and co-founders Benjamin Delo, and Samuel Reed, as well as head of business development Gregory Dwyer, have stepped down after the U.S. Department of Justice indicted them for violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act. The charges are based on what prosecutors say are deliberately weak and inefficient customer identification procedures.

  • Arthur Hayes indicted BitMEX
    Cryptocurrencies,  Regulation,  United States

    BitMEX CEO Arthur Hayes facing jail for AML violations

    The derivatives exchange’s founder has been charged with violating anti-money-laundering laws by the U.S. Attorney, and sued by that CFTC for the same thing

    Hayes, along with the Seychelles-based cryptocurrency derivatives exchange’s co-founders Benjamin Delo, Samuel Reed, and head of business development Gregory Dwyer have been charged with violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act by failing to put sufficient anti-money-laundering safeguards in place. Each charge carries a maximum penalty of five years in prison.