CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$62,452.00
  • ethereum
    ETH$2,440.97
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Former BitMEX CEO Arthur Hayes Could Surrender in Hawaii in April

    Former BitMEX CEO Arthur Hayes Could Surrender in Hawaii in April

    Author: Jordan Lyanchev

    Last Updated Mar 5, 2021 @ 10:19

    Arthur Hayes has proposed to surrender on April 6th following the charges brought by the CFTC against him and other executives from the exchange last year.

    Several months after the US Commodity Futures Trading Commission charged the BitMEX operators and owners of illegally operating a derivatives exchange, one of the key participants – Arthur Hayes – is willing to surrender next month.

    Arthur Hayes to Surrender in Hawaii?

    CryptoPotato reported back in late 2020 that the CFTC charged the BitMEX founders and executives with violations to the US Secrecy Act by “willfully failing to establish, implement, and maintain an adequate anti-money laundering program” on the derivatives trading platform.

    The consequences for the exchange were immediate. One of the operators, Samuel Reed, was arrested before he was released on a $5 million appearance bond. Hayes, on the other hand, remained at large but had to step down from his position as the CEO of the 100x Group – the organization that runs the exchange.

    According to court documents regarding a hearing that took place on February 9th, Hayes is “currently residing abroad in Singapore.” However, the former BitMEX executive is in talks with the US government about potentially surrendering and appearing in court.

    US Attorney Jessica Greenwood told the court that Hayes had “discussed a surrender date of April 6th, 2021 in Hawaii.” She added that “the plan is to notify the Court in advance of that appearance and discuss logistics for having him surrender and presented in Hawaii and then to remotely appear before your Honor.”

    ADVERTISEMENT

    After his remote appearance, though, Hayes would “continue to reside abroad with travel to the United States for appearances as needed and, of course, if there is a trial, that he would appear within the United States for that trial in New York.”

    Greenwood also explained that both sides are currently discussing a bail package.

    arthur_hayes
    BitMEX CEO Arthur Hayes. Photo by: Arthur Hayes

    What About Delo and Dwyer?

    The court transcript also touched upon the role and future of another co-founder – Ben Delo, and the former Head of Business Development – Greg Dwyer.

    Greenwood outlined that her office was “unable to negotiate a voluntary surrender” from Dwyer, who resides in Bermuda. Consequently, the authorities have begun extradition proceedings, and “we anticipate – or we understand from counsel that those proceedings will be unopposed.”

    On the other hand, Delo could voluntarily appear in the New York court as “at least counsel has represented that he is planning” to do so.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • arthur_hayes_cover
      Arthur Hayes is Back: Bitcoin is the Other Game as Opposed to Traditional Finance Systems
    • bitmex_cover
      BitMEX Appoints Former Bank Of China CCO As Non-Executive Board Director
    • bitmex_cover
      Following the CFTC Charges: BitMEX Reports 100% Verified Trading Volume and User Base
    Tags: Arthur Hayes BitMEX CFTC
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

    button
  • bitcoin
    BTC$62,452.00
  • ethereum
    ETH$2,440.97
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    bigomex
    Bitcoin Editorials
    4 Reasons Altcoin Season 2021 Has Officially Started

    4 Reasons Altcoin Season 2021 Has Officially Started

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!