Share this article

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.

Updated May 11, 2023, 4:56 p.m. Published May 5, 2022, 9:28 p.m.

BitMEX founder Arthur Hayes (CoinDesk archives)

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.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

This is a developing story and will be updated.

Regulations BitMEX Arthur Hayes CFTC