BitMEX Mastermind Arthur Hayes Pleads Guilty, Avoids Jail TimePublished 1 month ago Views (15) Finance
The picture is getting clearer for BitMEX co-founder Arthur Hayes. The judge called what he did “a willful violation of the Bank Secrecy Act,” but he still got two years probation. Hayes will serve the first six months of that sentence in home confinement, but that’s it. The banker and entrepreneur will not set foot in a cell. Why was anyone expecting otherwise, though?
Related Reading | Arthur Hayes’ Crystal Ball Predicts: Bitcoin And Ethereum To See Carnage In June
The top federal prosecutor in Manhattan, Damian Williams, commented in a statement that Hayes “allowed BitMEX to operate as a platform in the shadows of the financial markets.” That’s according to Bloomberg, publication that summarizes the situation as:
“On Friday a federal judge sentenced Hayes to two years’ probation, after Hayes and BitMEX’s other founders were charged in 2020 with violating the Bank Secrecy Act, which requires the establishment of such safeguards, including verifying the identities of an exchange’s customers.”
His company, BitMEX, also “agreed to pay $100 million to settle civil allegations that it allowed illegal trades for years and violated rules requiring anti-money-laundering programs, without admitting to or denying the claims.” Some people are completely...
Sarah J. Maas is the #1 New York Times and internationally bestselling author of the Throne of Glass, Court of Thorns and Roses, and Crescent City series. Her books have sold millions of copies and are published in thirty-seven languages.
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