Early BitMEX investor sues the crypto exchange for allegedly denying him $50M worth of equity

Quick Take

  • An angel investor alleges he gave BitMEX $30,000 in 2015 as an early investor in the company when nobody believed in it
  • The investor paid $30,000 in exchange for a SAFE agreement that promised him a stake in the company following a successful equity funding round
  • Now, the investor has sued the exchange — he alleges that equity was raised but that he never received his promised stock 
BitMEX, the Seychelles-registered bitcoin perpetual swap giant, was named in a new lawsuit for allegedly defrauding an early investor of nearly $50 million worth in equity.   In a Complaint filed last week in the San Francisco County Superior Court, Grasshopper Capital partner Frank Amato alleges BitMEX and its CEO Arthur Hayes denied him of […]

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Sep 24, 2021, 9:17PM UTC