BitMEX founder Arthur Hayes intends to surrender next month on a proposed $10 million bail


BitMEX founder and former CEO Arthur Hayes intends to voluntarily surrender to U.S. authorities next month on a proposed $10 million bail.

Hayes plans to travel to Hawaii on April 6 from Singapore, where he is currently residing with his wife, according to court documents seen by The Block.

Hayes' proposed bail worth $10 million, secured by $1 million in cash and co-signed by his mother, is subject to the court's approval.

Hayes first discussed a surrender agreement with U.S. authorities earlier this month. Now as part of his bail conditions, Hayes has also proposed to reside in Singapore with pre-approved travel to New York and retain his passport for travel between Singapore and the U.S.

Hayes — along with his fellow co-founders Ben Delo and Samuel Reed — was charged in October by the U.S. Commodity Futures Trading Commission (CFTC) for allegedly operating BitMEX without registering and violating CFTC rules.

The U.S. Department of Justice also charged all three executives at the time, along with BitMEX's first employee and head of business development Greg Dwyer, for allegedly violating the Bank Secrecy Act.

Delo surrendered to U.S. authorities earlier this week and was subsequently released on a $20 million bail. Reed was arrested last October and later released on a $5 million appearance bond. Dwyer remains at large, but U.S. authorities have begun extradition proceedings against him.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC