BitMEX Co-Founders Pardoned by Trump in Surprise Move

U.S. President Donald Trump has granted pardons to three key figures behind the BitMEX cryptocurrency exchange, as reported by CNBC.

U.S. President Donald Trump has granted pardons to three key figures behind the BitMEX cryptocurrency exchange, reports CNBC.

Arthur Hayes, Benjamin Delo, and Samuel Reed, the platform's co-founders, had previously pleaded guilty to a series of federal charges. These charges stem from a broadranging case that unfolded earlier this year, culminating in BitMEX paying a hefty $100 million to settle. The startup was sued by the U.S. on multiple fronts, including over breaches of the Bank Secrecy Act and failures to register as a money services business.

The presidential pardons come as no small feat. Trump's decision to grant clemency to these BitMEX executives marks a significant moment, considering the scope of the charges they faced and the stage at which they entered a plea bargain.

Earlier this year, BitMEX reached a settlement with the U.S. government over charges of money laundering, violations of the Bank Secrecy Act, and engaging in unregistered money-transmitting activity. The startup also paid a $50 million civil penalty to the Commodities Futures Trading Commission (CFTC) for related offenses.

According to reports by the _, BitMEX had been exploring a potential sale, with sources stating that investment bank Broadhaven Capital Partners was brought in to assist in the process.

The former president's involvement with the crypto industry has sparked widespread discussion, especially regarding the individuals receiving clemency. Previously, Trump pardoned Ross Ulbricht, the infamous creator of Silk Road, a dark web marketplace closely linked to Bitcoin's early days.

There has also been speculation surrounding potential pardons for other high-profile figures in the crypto space. Some reports suggested that the family of former FTX executive Sam Bankman-Fried had lobbied for his pardon, while rumors circulated that Binance's ex-CEO Changpeng Zhao had sought similar leniency. However, Zhao swiftly denied any such efforts.

Trump and his allies have increasingly positioned themselves within the digital asset space, with a DeFi project linked to his camp recently announcing plans to launch a stablecoin tied to the U.S. dollar.