- Briefing Your roundup of Asian tech and startup news that matter
Doris Yu · · 1 min readBitMex founder to face money laundering charges in the US
“One of the founders of pioneering crypto-derivatives exchange BitMex has surrendered to authorities to face charges that he schemed to avoid US anti-money laundering laws,” reported Bloomberg.
Details:
- Benjamin Delo was arraigned during a remote proceeding on Monday and was released on a US$20 million bail bond after pleading not guilty.
- In October, US federal prosecutors accused BitMex founders Delo, Arthur Hayes, and Samuel Reed of disobeying laws while doing business in the country and ignoring the requirement to register with the Commodity Futures Trading Commission.
Context:
- Earlier this month, prosecutors said that Hayes was in Singapore and has discussed surrendering in Hawaii later in April. Reed, meanwhile, was arrested in Massachusetts last year.
- BitMex’s first employee and head of business development Gregory Dwyer, a fourth defendant, remains at large.
Editing by Miguel Cordon and September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
