Regulation

BitMEX Ex CEO Arthur Hayes Negotiates Surrender To US Authorities

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The BitMEX Ex CEO Arthur Hayes is allegedly negotiating to surrender to US authorities in Hawaii and associate Greg Dwyer could be extradited from Bermuda as well so let’s read more in our crypto latest news today.

According to court documents shared with The Block, the BitMEX ex CEO Arthur Hayes could decide to surrender to US authorities in Hawaii in a month. Greg Dwyer and Hayes as well as Ben Delo were charged with “Willfully failing to establish, implement, and maintain an adequate anti-money laundering program” for their derivatives exchange. Reed was already arrested but the other three men are at large and according to transcripts, Hayes is in Singapore. Dwyer’s Twitter account shows a location in Bermuda while Delo is a British national.

The Assistant US Attorney Jessica Greenwood commented about Hayes and told the US District Court of the Southern District of New York that there are chances that Hayes will appear virtually before a judge:

“We, with respect to defendant Hayes, have discussed a surrender date of April 6, 2021, in Hawaii.”

Delo seemed prepared to turn himself in and appear before a judge:

“He is planning, or at least counsel has represented that he is planning, to appear in New York. We are working with the FBI and Border Patrol to obtain immigration authorization for him to be permitted to come here.”

Dwyer is still the wild card and according to prosecutors:

“We have also been in discussions with his counsel about obtaining his appearance. We were unable to negotiate a voluntary surrender so we have begun extradition proceedings against him in Bermuda.”

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Despite the legal troubles, BitMEX remains one of the biggest exchanges for crypto derivatives and it reportedly recorded over $127 billion in volume over the past month which is twice as much as Kraken and s little less than Coinbase Pro.

As recently reported, BitMEX’s former CEO Arthur Hayes returned from exile with a post on derivatives exchanges calling for a boycott of the legacy platforms after the GameStop drama and said that the incident where Robinhood was halted after retail traders forced the short squeeze caused hedge funds to suffer billions in losses showed that the markets are hostile and created against retail traders.

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