- Hayes and co-founder Benjamin Delo, as well as former Chief Technology Officer Samuel Reed, all acknowledged they had operated BitMEX, a crypto spot and derivatives trading platform, with poor anti-money laundering (AML) protocols and agreed to pay a fine of $10 million each.
- Hayes’ lawyers filed a request for probation after agreeing to a plea deal that would result in a prison sentence of six to 12 months under federal guidelines, according to Bloomberg.
- The lawyers argued that Hayes is unlikely to be a repeat offender, and included a letter from his mother and other supporters, Bloomberg wrote.
- Hayes surrendered to U.S. authorities in Hawaii in April to face charges.
- Hayes will be sentenced by a federal judge later this month.
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