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Former BitMEX CEO Arthur Hayes Surrenders To US Authorities In Hawaii; Released On A $10M Bond

Arthur Hayes, founder and former CEO of BitMEX, finally surrendered to U.S. authorities in Hawaii to face charges that the crypto derivatives exchange and its executives violated the Bank Secrecy Act, according to a Bloomberg report. Hayes has been living in Singapore since January 2020 and was flown to Hawaii to appear before a Honolulu judge. He attended an arraignment hearing before the federal judge and was subsequently released on a $10 million bond as part of prior negotiations with the U.S. government made by Hayes’ lawyers. The ex-CEO will stand trial in New York alongside co-owner Benjamin Delo and…

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BitMEX Co-Founder Arthur Hayes Surrenders, Will Face Trial In US

BitMEX Co-founder Arthur Hayes surrenders to US authorities and will face trial in the US according to reports that we have in our latest cryptocurrency news today. Hayes was charged with violating the Bank Secrecy Act with conspiracy to evade money laundering regulations. The BitMEX Co-founder Arthur Hayes surrendered to the US authorities and now he is awaiting trial. Hayes was living in Singapore and flew to Hawaii to turn himself in before being released on a $10 million bail due to his deal with the US prosecutors. The former CEO will face trial in New York along with Benjamin…

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BitMEX’s Arthur Hayes surrenders in Hawaii, free on $10M bond

The former chief executive officer of BitMEX was given in Hawaii and was later free once posting a $10 million bond. Former BitMEX chief executive officer Arthur Hayes gave to U.S. authorities in Hawaii on Tues, six months once federal prosecutors 1st levied charges against him and 3 fellow BitMEX executives. In a statement, Hayes’ lawyers delineated the Singapore resident as “a successful enterpriser UN agency has been incorrectly defendant of crimes that he failed to commit,” adding: “Mr. Hayes voluntarily appeared in court and appears forward to fighting these unwarranted charges.” Hayes was free once posting a $10 million…

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BitMEX’s Arthur Hayes Surrenders To Authorities

The former CEO of BitMEX has appeared in court in Honolulu and is out on $10 million bond, according to reports. The former chief executive officer of BitMEX cryptocurrency exchange, Arthur Hayes, has turned himself in. According to a Bloomberg report, although Hayes currently resides in Singapore, he appeared in a Honolulu courtroom on charges related to alleged violations of know-your-customer laws in the United States. He was released on a $10 million bond pending forthcoming court proceedings in New York. After failing to implement anti-money laundering procedures that are required by businesses operating within the North American jurisdiction, the…

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BTC Futures Open Interest Hits $23B, Binance Captures Lion’s Share, Signals Say 43% Chance of $64K Bitcoin by Month’s End

Bitcoin futures open interest on Monday has crossed $23 billion according to data recorded on April 5. The crypto asset exchange Binance has taken the lead as far as open interest in bitcoin futures is concerned with a massive $10.5 billion in open interest. Binance Captures the Bitcoin Futures Lead Not too long ago, Bitcoin.com’s newsdesk reported on CME Group capturing the lead as far as open interest in bitcoin futures. Today, that’s no longer the case, as Binance has jumped ahead of the pack as far as delivering futures derivatives products for BTC. Skew.com analytics indicates that Binance is…

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Egy bitcoin milliomos tündöklése és bukása: a BitMex story

A Vanity Fair magazin hosszú cikket szentelt Arthur Hayes, a BitMex volt vezérigazgatójának történetének bemutatásának, aki bár korábban olyan szintű gazdagságot ért el, amiről sokan csak álmodnak, mára ebből kevés maradt, mi több, jelenleg a szabadságáért küzd. A történet Arthur Hayes gyermekkorával és iskolaéveivel indul az Egyesült Államokban, majd folytatódik Hong-Kongban, ahol Arthur először a Deutsche Banknál, majd a Citibanknál is dolgozott ETF (Exchange Traded Funds) befektetések területen, mielőtt megtalálta volna az igazi szenvedélyét: a bitcoint. Az elsők között fedezte fel, hogy bármi is legyen a hivatalos álláspont, Kínában hatalmas a mindennapi emberek érdeklődése a bitcoin iránt. Társaival, Ben Delo…

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BitMEX Founder Surrenders to U.S. Authorities, Pleads Not Guilty

BitMEX cofounder Benjamin Delo has turned himself in following charges that the exchange skirted AML laws. Reports have emerged that one of the cofounders of leading cryptocurrency derivatives platform BitMEX, Benjamin Delo, has surrendered to authorities in the United States. Delo faces charges that he violated the country’s anti-money laundering (AML) laws during his time at the exchange. Delo, who traveled from the United Kingdom to New York this week, was arraigned before Magistrate Judge Sarah L. Cave in a remote proceeding, Bloomberg reported. He pleaded “not guilty” to the charges and he was released on a $20 million bail…

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What does DeFi need to watch out for after CFTC’s BitMEX charges?

BitMEX was in the eye of the storm this past week after U.S regulators took its case. The charges brought by the CFTC against BitMEX argue that the exchange facilitated cryptocurrency derivatives transactions with an aggregate notional value of trillions of dollars and failed to implement the most basic of compliance procedures required of financial […] The post What does DeFi need to watch out for after CFTC’s BitMEX charges? appeared first on AMBCrypto.

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Recent BitMEX Crackdown Will Boost DeFi: Industry Insiders

The recent BitMEX crackdown will only boost DeFi as it showed once again that decentralization is the way to move forwards for those offering crypto-related services according to a few industry insiders. In our latest blockchain news, we discuss some more. According to the Defi-focused newsletter The Defiant, the charges against BitMEX by the Commodity Futures Trading Commission will only boost the Defi space and will push more crypto projects into decentralization. The Newsletter quoted Jake Chervinsky who is a general counsel at Compound Finance saying that the latest complaints against BitMEX will not apply to all DeFi protocols as…

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Traders Withdraw Over 40K Bitcoin from BitMEX as Company’s Legal Woes Kick-Off

Top cryptocurrency derivatives exchange platform BitMEX is currently battling a hoard of criminal charges from the United States government. While the Seychelles-based exchange has denied any wrongdoing, the scandals appear to be causing it to bleed customers. Antsy Traders On the Move According to data from Glassnode, traders have withdrawn about 45,000 BTC tokens (worth about $420 million) from the exchange since its row with the U.S. government began. The blockchain data tracking firm had previously pointed out that BitMEX lost 23,200 BTC (about $243 million) in a single hour, marking the most massive hourly outflow that the exchange has ever…

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BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit

After the US government charges on BitMEX, the exchange company has shed up to 45,000 Bitcoin, making Huobi, OKEx, Binance, and Gemini the biggest beneficiaries of the exchange’s slump. This month alone, BitMEX and its leadership were charged by both the DOJ and the CFTC. As if that was not enough, the exchange’s founders as well as chief executive officer Arthur Hayes were charged by the U.S. government. In response to the news, the market witnessed a heavy fall in activities across a lot of blockchain’s biggest assets. The sharp decline and subsequent backlash resulted in a rise in trading…

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What Market Pundits Say Comes Next For Bitcoin Following BitMEX’s Indictment

Crypto analyst Willy Woo has recently voiced his inclination on the great confidence he still has in Bitcoin despite its dwindling market price. According to Woo, the market has been unjustly overawed because BitMEX wasn’t hacked but its founders were charged by the CFTC for violating the US Bank Secrecy Act. He also states “No traders will lose coins” and “futures exchanges will clean up their practices”. Recent Hits On Bitcoin On Thursday, the Commodity Futures Trading Commission (CFTC) made civil charges against BitMEX and all of its affiliated entities. The organization claimed that BitMEX was operating illegally in addition…

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Bitcoin Transactional Fees Double After BitMEX Exodus

Bitcoin transactional fees have almost doubled Ethereum’s after the CFTC filed charges against BitMEX and users started withdrawing the funds from the exchange as we are reading more in our latest bitcoin news. Bitcoin transactional fees are on the rise after the BitMEX exodus while Ethereum’s have fallen. The ETH fees are usually higher than the ones of BTC but now it seems that Bitcoin’s fees doubled Ethereum’s. While Bitcoin’s average transaction fees doubled in the past week, the data from BitInfoCharts that Ethereum’s fees are declining. The reason for that could be the recent user withdrawal of funds from…

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Crypto Exchange BitMEX Is Accused of Money Laundering

Criminal charges have been filed against the owners of BitMEX, arguably one of the largest and most popular cryptocurrency exchanges in the world. The company has been accused of engaging in illegal transaction activity and of money laundering. BitMEX Owners Experience Indictments BitMEX chief executive Arthur Hayes was formally charged on Thursday by prosecutors in the greater metropolitan area of New York City. In addition, three of the platform’s other owners – including Benjamin Delo, Samuel Reed and Gregory Dwyer – have also been charged with fraud and other miscellaneous crimes. At the time of writing, only Reed has been…

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Indictments issued for BitMEX senior team are a signal to all

Is BitMEX too big to fail, or are the charges a serious threat? On the morning of Oct. 1, the United States government authorities in New York issued indictments for four of the senior team of BitMEX, the famed “wild card” exchange based in Hong Kong. Despite that, the crypto exchange still continues to operate its services.  BitMEX is one of the world’s largest crypto exchanges and has a reputation for being notoriously “relaxed” on Know Your Customer and ID procedures for its users — at least until mid-August of this year. Additionally, users are allowed a high withdrawal limit…

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Markets Disaster: Nearly 40,000 BTC Withdrawn From BitMEX

Leading Bitcoin derivatives exchange BitMEX has lost close to 40,000 BTC in rushed withdrawals following the recent indictment of its founders, including CEO Arthur Hayes, by the Commodities Futures Trading Commission (CFTC). On-chain analysis firm Glassnode has been sharing continuous updates showing increased Bitcoin outflow from BitMEX since Thursday after the CTFC accused Hayes and other co-owners of conducting illegal transactions and enabling money laundering activities. The Hong-Kong Based BitMEX will be the first and largest cryptocurrency exchange to face the CFTC in court over criminal activity allegations. According to Glassnode’s latest update, there’s been an outflow of close to…

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COVID-19, Trump, KuCoin, BitMEX: Bitcoin price says keep calm and carry on

Bitcoin’s stability throughout an eventful week shows traders are confident that the bullish uptrend will resume soon. Bitcoin (BTC) price appears on the verge of closing another week pinned below the $11,000 resistance but given the major events of the week, things could have been so much worse.  Cryptocurrency daily market performance snapshot. Source: Coin360 The top-ranked cryptocurrency by market cap held its ground as KuCoin revealed more than $150 million worth of assets had been stolen from the exchange, and the price only stumbled slightly as the CTFC announced that legal action was being taken against BitMEX exchange.  The…

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