Trump’s Crypto Pardon Spree: BitMEX Founders Get a Get-Out-of-Jail-Free Card!

by

In a move that surprised absolutely no one who’s been paying attention to the bizarre intersection of politics and crypto, Arthur Hayes, Benjamin Delo, and Samuel Reed—BitMEX’s co-founders—were pardoned by none other than Donald Trump. 🤯 The trio, who had previously confessed to a delightful cocktail of federal charges including money laundering and compliance failures, were accused of turning BitMEX into a veritable playground for shady financial shenanigans. Trump’s decision to pardon them, announced on Thursday, left everyone wondering if he’d finally found a use for that Sharpie he’s so fond of.

BitMEX, of course, had already been slapped with a $100 million fine earlier this year after a legal battle that dragged on longer than a Marvel movie marathon. In July, the company admitted to breaking the Bank Secrecy Act, with authorities pointing out that it had conveniently “forgotten” to implement proper safeguards against illicit financial activity from 2015 to 2020. Oops. 🙃

Rumors have been swirling that BitMEX was considering a sale, with investment bank Broadhaven Capital Partners allegedly brought in to help. Because nothing says “fresh start” like selling your company after a $100 million fine and a presidential pardon, right?

Trump’s foray into the crypto world has been nothing short of entertaining. Earlier, he pardoned Ross Ulbricht, the infamous creator of Silk Road, a dark web marketplace that was basically the eBay of illegal goods. Now, speculation is rife that other crypto heavyweights might be next in line for a Trump-branded get-out-of-jail-free card. Sam Bankman-Fried’s family reportedly lobbied for his pardon, while Changpeng Zhao, Binance’s ex-CEO, quickly denied any such efforts. Because, you know, nothing says “innocent” like a hasty denial. 😏

Meanwhile, Trump and his allies are diving headfirst into the digital asset space, with a DeFi project linked to his camp announcing plans to launch a stablecoin tied to the U.S. dollar. Because if there’s one thing the world needs, it’s a Trump-backed cryptocurrency. 🚀

Read More

2025-03-29 08:45