Former BitMEX CEO Arthur Hayes Tries to Avoid Jail

Written by C, Fiona

Last updated: 2022-05-06

Why Trust BTCC

BTCC, a seasoned player in the cryptocurrency sector, has established a solid foundation of credibility through its over a decade of platform operation and profound industry experience. The platform boasts an experienced team of professional analysts who leverage their keen market insights and profound understanding of blockchain technology to offer precise market analyses and investment strategies to users. Furthermore, BTCC adheres to rigorous editorial standards, ensuring that every report and analysis is fact-based, striving for objectivity and fairness, thus providing investors with authoritative insights they can rely on. In the rapidly evolving cryptocurrency market, BTCC stands out as an indispensable partner for numerous investors and enthusiasts due to its stability, professionalism, and forward-thinking approach.

Months after Arthur Hayes pleaded guilty to violating the Bank Secrecy Act, his legal team has filed documents, including a letter to his mother asking for leniency.

Former BitMEX CEO Arthur Hayes who has pleaded guilty to violating the Bank Secrecy Act is trying to avoid being sent to jail.

Former BitMEX CEO Arthur Hayes has asked a judge for leniency — and he also wants the freedom to live abroad and travel.

His legal team has submitted documents including a letter for his mother that requests leniency.

Hayes previously admitted that BitMEX, a crypto trading platform, had operated with poor anti-money laundering checks in place.

He’s already agreed to pay a fine of $10 million — and signed a plea deal that means he faces six to 12 months behind bars.

But his lawyers are now arguing that Hayes is unlikely to be a repeat offender, and they warn that the case will set a precedent for prosecuting financial crimes at cryptocurrency exchanges around the world.

Hayes is due to be sentenced by a judge in Manhattan later this month.