BitMEX co-founder Ben Delo surrendered to U.S. authorities on Monday and was subsequently released on a $20 million bail.
Delo traveled to New York from the U.K. and was arraigned before U.S. Magistrate Judge Sarah L. Cave during a remote proceeding on Monday, according to court documents seen by The Block. Delo pleaded not guilty, and the terms of his bail allow him to keep a U.K. passport and return to the country.
Delo — along with his fellow co-founders Arthur Hayes and Samuel Reed — were charged in October by the U.S. Commodity Futures Trading Commission (CFTC) for allegedly operating BitMEX without registering and violating CFTC rules, including anti-money laundering and know-your-customer requirements.
The U.S. Department of Justice also charged all three executives at the time, along with BitMEX’s first employee and head of business development Greg Dwyer, for allegedly violating the Bank Secrecy Act.
Earlier this month, U.S. authorities discussed a surrender agreement with Hayes, and he is expected to surrender in Hawaii on April 6. Reed was arrested last October and later released on a $5 million appearance bond. Dwyer remains at large, but U.S. authorities have begun extradition proceedings against him.
What the near future holds for all the four defendants and BitMEX? The Block reported recently to try to find some answers.
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