Ex-BitMEX CEO Hayes Asks for No Jail Time, Ability to Travel Freely: Report

Lawyers for Arthur Hayes argued he was unlikely to be a repeat offender and included a letter of support from his mother.

May 5, 2022 at 1:30 p.m. UTC
Updated May 5, 2022 at 1:53 p.m. UTC

Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

BitMEX co-founder and former CEO Arthur Hayes, who pleaded guilty to violating the Bank Secrecy Act in February, has asked for no jail time and the freedom to travel freely and live abroad, according to a report from Bloomberg.

  • 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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Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

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Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

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