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BitMEX CEO Arthur Hayes Might Surrender to US Authorities as Exchange Is Facing CFTC Enforcement Action for Illegal Crypto Derivatives Trading
Arthur Hayes, the former CEO of digital currency derivatives exchange
BitMEX, is reportedly holding discussions which would involve his surrender to US authorities as early as next month (April 2021).
As reported in October of last year, Hayes and several other senior managers at the Bitcoin Mercantile Exchange (BitMEX) were the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC).
According to the CFTC, a civil enforcement action had been filed in the U.S. District Court for the Southern District of New York charging five entities and three individuals that own and operate the BitMEX with operating an unregistered trading platform and violating multiple CFTC regulations, including failing to implement required anti-money laundering (AML) procedures.
CRAZY RICH
Arthur Hayes lives large. Like Bobby Axelrod-in-
Billions large. Just replace New York with Hong Kong and infuse it with a dose of Silicon Valley where unicorns spring from the minds of irrepressible company founders and, well, you get the picture. One minute Hayes is hitting the powder in Hokkaido, the next he’s crushing it on a subterranean squash court in Central Hong Kong’s Wall Street. And all the while he keeps one eye trained on an obscure-sounding currency exchange that he built out of thin air and through which more than $3 trillion has flowed.
Screen-star handsome and fabulously wealthy, the African American banker turned maverick personifies the contemporary fintech pioneer. But the feds describe Arthur Hayes differently: a wanted man who “flouted” the law by operating in the “shadows of the financial markets.” Hayes’s indictment was unsealed in October, and he remains at large in Asia as prosecutors in New York hope to arrest him and try him on