BitMEX co-founders granted clemency by Trump for financial offenses, says media

Former US President Donald Trump has granted pardons to Arthur Hayes, Benjamin Delo, and Samuel Reed, the co-founders of BitMEX.

According to CNBC, the trio had earlier pleaded guilty to federal charges associated with money laundering and violating regulatory rules.

The executives were found guilty of not implementing anti-money laundering measures at BitMEX, which prosecutors described as a "money laundering platform."

In 2022, Reed confessed to violating the Bank Secrecy Act and agreed to pay a $10 million fine. Despite BitMEX's claims of leaving the US market, authorities alleged that the move was a "sham."

BitMEX's banking issues

BitMEX was ordered to pay a $100 million penalty in January for violating US banking laws.

A federal judge instructed HDR Global Trading Limited, the parent company of BitMEX, to pay the penalty and serve a two-year unsupervised probation sentence.

BitMEX sought a buyer earlier this year and hired Broadhaven Capital Partners for the sale. Reports suggested that the investment bank was appointed in late 2024 to facilitate the deal. The move came amid increasing mergers and acquisitions in the crypto derivatives sector.

Trump granted the pardons on Thursday, according to CNBC, the same day Trevor Milton, the former CEO of Nikola, announced receiving clemency for his securities fraud conviction.
Milton had been sentenced to four years in prison but remained free on appeal.