Former U.S. President Donald Trump has reportedly granted presidential pardons to three co-founders of the BitMEX cryptocurrency exchange. While the official reasons remain unclear, all three individuals had previously been convicted and received relatively light sentences, such as home confinement, probation, and financial penalties.
Lack of Formal Statement
As of now, the White House has not released an official statement confirming the pardons. However, since January 20, Trump has signed multiple executive orders granting clemency to various individuals, including Silk Road founder Ross Ulbricht.
Background on the BitMEX Case
The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against BitMEX and its leadership team in 2020, accusing them of violating anti-money laundering (AML) laws.
The case named the following individuals:
- Arthur Hayes, CEO of BitMEX
- Ben Delo, Co-Founder
- Samuel Reed, CTO
- Greg Dwyer, Head of Business Development
Arthur Hayes eventually stepped down as CEO. In 2022, Hayes and Delo pleaded guilty to willfully failing to implement an AML program, followed shortly by Reed’s guilty plea. BitMEX was fined $100 million as part of the legal settlement.
What’s Next?
Trump’s pardons for the BitMEX founders may signal a more lenient stance on past crypto-related infractions, as part of his broader support for the digital asset space. However, the lack of official confirmation leaves room for speculation and continued scrutiny.