U.S. President Donald Trump has granted pardons to three key figures behind the BitMEX cryptocurrency exchange, as reported by CNBC.
Arthur Hayes, Benjamin Delo, and Samuel Reed, the platform’s co-founders, had previously admitted to a series of federal charges related to money laundering and compliance failures. Prosecutors accused them of turning BitMEX into a vehicle for illicit financial transactions while falsely claiming to have exited the U.S. market. Trump’s decision to pardon them came on Thursday, according to the report.
BitMEX had already faced serious legal repercussions, including a $100 million penalty imposed earlier this year after a prolonged legal battle over anti-money laundering violations. In July, the company admitted to breaking the Bank Secrecy Act, with authorities stating that it had deliberately failed to implement adequate safeguards against illicit financial activity between 2015 and 2020.
Recent reports suggested that BitMEX had been exploring a potential sale, with sources indicating 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 had 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.
Author
Editorial Team
Reporter at Coindoo
