Legal

BitMEX CEO ‘Samuel Reed’ Released From Jail For $5 Mln Fine.

The former CTO of the troubled BitMEX exchange has been released from remission after a bond for $5 Mln was paid within the United States.

The news was made public within a document from the District Court of Massachusetts, primarily reported by The Block.

Within the document revealed, Samuel Reed pledged to come to court and comply with sentencing or risk the loss of the bond.

He was further arrested in Massachusetts earlier on 1st Oct., as the United States CFTC [Commodities Futures Trading Commission] and therefore the DoJ [Department of Justice] both announced charges against BitMEX, one among the leading cryptocurrency derivatives trading platforms, and its senior executives.

The charges embody offering illicit trading of derivatives to United States retail investors as well as violating the Bank Secrecy Act.

Earlier on 8th Oct., BitMEX’s parent firm 100x Group announced that its CEO Arthur Hayes and Reed – both founders – had both stepped down from their management positions following the fees.

Greg Dwyer, the lead of business development, would take a leave of absence, the exchange added.

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