Former CEO of crypto exchange BitMEX, Arthur Hayes, along with his co-founders Samuel Reed and Benjamin Delo, as well as senior employee Greg Dwyer and BitMEX’s operating entity, HDR Global Trading, have been granted a pardon by U.S. President Donald Trump, a White House official confirmed Friday. The pardons, which were signed on Thursday, were reported by CNBC.
In 2020, the U.S. Department of Justice (DOJ) charged BitMEX and its employees with violating the Bank Secrecy Act (BSA) by allowing customers to use the platform anonymously without providing KYC information. All individuals pleaded guilty and faced fines and probation. The exchange itself pleaded guilty to violating the BSA last year.
Hayes, Delo, and Reed faced probation sentences, while Dwyer received a 12-month probation. Delo expressed gratitude for the pardon, stating that they were wrongfully targeted. Hayes simply said “thank you” on X.
BitMEX was also ordered to pay $100 million for violating CFTC regulations in 2021. Attorneys for Hayes, Delo, and Reed did not comment immediately.
The reported pardons come after Trump pardoned Trevor Milton, former CEO of Nikola Motors, who was convicted of fraud in 2022. Trump also recently pardoned Silk Road creator Ross Ulbricht. Former Binance CEO Changpeng “CZ” Zhao, who served time for the same charge as Hayes, denied seeking a pardon from Trump.
UPDATE (March 28, 2025, 20:40 UTC): Adds Delo statement and White House official.
UPDATE (March 28, 21:06 UTC): Adds Hayes.
UPDATE (March 29, 04:15 UTC): Adds Dwyer and HDR.
