US Court Orders BitMEX Founders to Pay $30M for Illegal Trading

Arthur Hayes, Benjamin Delo and Samuel Reed will each pay $10 million for their role operating BitMEX.

AccessTimeIconMay 5, 2022 at 9:28 p.m. UTC

Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.

A federal judge ordered the three co-founders of BitMEX to pay $30 million total for operating an illegal cryptocurrency derivatives platform and violating money-laundering rules, the Commodity Futures Trading Commission said in a Thursday statement.

The U.S. District Court for the Southern District of New York ordered the platform’s founders – Arthur Hayes, Benjamin Delo and Samuel Reed – to each pay a $10 million penalty.

This is a developing story and will be updated.

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Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.

CoinDesk - Unknown

Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.