Crypto exchange platform BitMEX is pleading guilty to violations of the Bank Secrecy Act, according to the Department of Justice (DOJ). In a new press release, the DOJ says that BitMEX, founded by crypto entrepreneur Arthur Hayes in 2014, violated the law by neglecting to establish and maintain an adequate anti-money laundering (AML) protocol. BitMEX […]
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BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed pleaded guilty to similar criminal charges in 2022 and received probation.
Officials with the US Department of Justice announced that cryptocurrency exchange BitMEX pleaded guilty to violating the Bank Secrecy Act (BSA) by operating without “any meaningful” Anti-Money Laundering (AML) program.
In a July 10 notice, US Attorney Damian Williams said BitMEX “willfully fail[ed] to establish, implement, and maintain” an adequate AML program from 2015 to 2020. The charges seem to result from testimony during 2022 criminal proceedings against some of the exchange’s founders and employees.
“BitMEX opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system,” said Williams. “Today’s guilty plea indicates again the need for cryptocurrency companies to comply with US law if they take advantage of the US market.”
SOL price weakness can explained by Solana Network's activity and lack of appetite from derivatives traders.
Despite a brief rally to $151 on June 16, Solana’s native token SOL (SOL) has experienced a 24% correction since June 7. It has underperformed against the total cryptocurrency market capitalization that’s down 14% over the same period.
This suggests that SOL’s issues are more pronounced than the overall market’s reduced interest in cryptocurrencies.
Several indicators, including Solana Network’s on-chain activity and demand for leveraged positions, indicate that SOL's bearish momentum is likely to continue. If demand remains stagnant, this could lead to a retest of the $130 level or lower.
Arthur Hayes, the founder and former CEO of Bitmex, recently shared his insights on the future of global financial markets in a blog post. Hayes delves into the impact of central bank policies on the global economy, emphasizing the role of interest rates and inflation targets. Bitmex Founder’s Perspective on Global Finance and Bitcoin In […]
On June 5, 2024, the crypto derivatives exchange Bitmex announced it is offering 200x leverage for ethereum perpetuals ahead of the U.S. ether exchange-traded funds (ETFs) trading debut. Bitmex Ramps Up Ethereum Trading With 200x Leverage Offering According to a social media post on X published Wednesday, Bitmex is introducing 200x leverage perpetuals for ethereum […]
On Wednesday, the cryptocurrency exchange and derivatives trading platform Bitmex declared its introduction of new trading options. Users now have the opportunity to engage in a broad selection of crypto options, which are margined in bitcoin, USDT, or USDC. Bitmex Introduces Options Trading On Wednesday, the crypto firm Bitmex, established in 2014 by Arthur Hayes, […]
Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.” Arthur Hayes’ Bitcoin […]
New data reveals that one of the biggest banks in the world is acquiring shares of asset manager BlackRock’s spot market Bitcoin (BTC) exchange-traded fund (ETF). In a new filing with the U.S. Securities and Exchange Commission (SEC), France-based BNB Paribas – the ninth-largest bank in the world – purchased 1,030 shares of the iShares […]
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Former Bitmex CEO Arthur Hayes has explained why he believes that “bitcoin and crypto prices in general will slump around the halving.” He added that from now until May 1, he “will be in a no-trade zone,” emphasizing that “April will experience extreme weakness in risky asset markets.” Bitcoin Price Will ‘Slump Around the Halving,’ […]
Bitcoin’s price on Bitmex plummeted to $8,900 in a flash crash late Monday, diverging significantly from the global average price of around $67,400, due to large sell orders on the XBT/USDT pair. Bitmex is investigating the incident, which involved over 850 BTC being sold, causing the dramatic price drop while other exchanges showed prices well […]