BitMex co-founder Ben Delo has surrendered to US authorities. Sarah L. Britain flew to New York to take Cave to trial Reports Bloomberg News Agency.
Pitmax co-founder questioned
Delo is like Bitmex, the exchange of descendants of co-founders Arthur Hayes (CEO) and Samuel Reid (CDO). Traders can predict the futures exchange rate of futures by permanent transfers, without an expiration date.
In October 2020, they were indicted by the Commodity Futures Commission (CFDC) and the Department of Justice. One of the charges: Violation of the Banking Secrets Act.
One of the conditions of this law is: Financial institutions must notify the regulator of all transactions in excess of $ 10,000. It aims to prevent money laundering and tax evasion. However, beyond the debate over whether this law is effective, Bitmex has failed to report transactions in the eyes of officials.
For years, customers did not need to identify themselves, they violated applicable knowledge-your-customer practices. So the founders are personally charged and not only from their business position in BitMax.
Sarah L. in Delo New York. Cave appeared before him and pleaded not guilty. He was released on $ 20 million (!) Bail. According to the document, Delo could have kept his British passport and returned to the UK to wait for a criminal case.PDF).
CDO Samuel Reid was previously pulled out of his bed and released after being granted $ 5 million bail. Arthur Hayes is still a fugitive and is said to be living in Singapore. Authorities are in talks with Hein’s lawyers to question him in Hawaii on April 6.
The fourth person to appear before the dock was Gregory Dwyer, the company’s first employee. He still lives in Bermuda and is not ready to surrender. U.S. officials have demanded extradition from the Caribbean.
Although the exchange has lost a lot of volume due to the news, the exchange is popular among speculators. According to Goingko The trade volume in the last 24 hours was $ 4.4 billion. They stand there