Bitcoin (BTC) will cost $1 million by 2030, one of the industry’s best-known pundits insists, as countries worldwide shun the euro and United States dollar. In his latest blog post published o April 27, Arthur Hayes, former CEO of crypto derivatives giant BitMEX, doubled down on his sky-high price prediction for Bitcoin and gold. Bitcoin, gold, commodities... just not fiat In light of sanctions on Russia over its invasion of Ukraine, a giant pivot in both geopolitical and economic policy is coming, Hayes said. As the U.S. and European Union battle to reduce dependency on Russian energy and food, the …

The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ). American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is a Seychelles-based crypto trading platform that offers crypto futures, derivatives, and margin trading up to 100x. The exchange once offered its services without any know-your-customer (KYC) or AML verification procedures to Americans. The DOJ’s Feb. 24 announcement on the case …

The California District Judge overseeing a racketeering suit filed against crypto derivatives exchange BitMEX, William H. Orrick, has rebuffed the plaintiffs’ motion offering to provide them with a tutorial on “cryptocurrency basics.” According to a July 13 report from Law360, the judge responded to Bitcoin Manipulation Abatement LLC (BMA)’s proposal with a one-page order on Tuesday, outlining the offer was “not well taken.” “Plaintiffs believe that cryptocurrency tutorial will benefit the court. I think not,” Judge Orrick wrote, adding that the plaintiffs should “focus on the task at hand — convincing me that they have stated a plausible claim.” BMA’s …

Former BitMEX CEO Arthur Hayes surrendered to United States authorities in Hawaii on Tuesday, six months after federal prosecutors first levied charges against him and three fellow BitMEX executives. In a statement, Hayes’ lawyers described the Singapore resident as “a self-made entrepreneur who has been wrongly accused of crimes that he did not commit,” adding: “Mr. Hayes voluntarily appeared in court and looks forward to fighting these unwarranted charges.” Hayes was released after posting a $10-million bail bond pending future proceedings in New York. Hayes’ lawyers proposed his surrender in Hawaii last month. Discussions centered around Hayes’ potential release subject …

Ben Delo, one of the founders and co-owners of embattled crypto derivatives exchange BitMEX, has surrendered to United States authorities in New York. According to Bloomberg, Delo was arraigned remotely before U.S Magistrate Judge Sarah Cave during a proceeding on Monday. He pleaded not guilty to all charges and was released on a bail bond of $20 million. The bail terms stipulate that he is permitted to return home to the United Kingdom and await trial. Delo’s surrender was part of an agreement negotiated with U.S authorities in February. The terms were coordinated with the Federal Bureau of Investigation and …

The former CEO of crypto derivatives exchange BitMEX, Arthur Hayes, is in negotiations to surrender to U.S. authorities next month concerning charges that authorities levied against four of the exchange’s executives and co-owners in October. Transcripts of a court teleconference dated Feb. 16 indicate Hayes will surrender to the U.S. in Hawaii on April 6. Hayes and his fellow executives are accused of violating the Bank Secrecy Act by the U.S. Department of Justice and the Commodity Futures Trading Commission. The transcript details the assistant U.S. attorney Jessica Greenwood’s comments to the judge presiding over the case, with Greenwood indicating …

BitMEX co-founder and former CEO Arthur Hayes has returned from exile with a post on the derivatives exchange’s official blog calling for a boycott of legacy platforms following the GameStop drama. Hayes said the incident, where trading on Robinhood was halted after retail traders forced a short squeeze causing hedge funds to suffer billions in losses, showed that markets are stacked against retail traders: “The game masters just didn’t like how the game was being played, so they jacked up margin to force a course correction,” he said. The former BitMEX CEO urged retail traders trader to “opt-out” of the …

100x — the holding group for Bitmex’s parent company — has announced the appointment of a permanent new CEO in the wake of charges filed in October against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes. On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO in January 2021. Hoptner will also join 100x’s board of directors and report directly to the group’s chairman, David Wong. 100x’s new CEO stated: “I am proud to join 100x Group because I share …

Over 45,000 Bitcoin has been withdrawn from BitMEX since the U.S. government levied charges against the exchange and its leadership. October 1 brought two devastating blows to BitMEX. First, the CFTC and DOJ brought charges against the exchange. Shortly thereafter, its founders (including CEO Arthur Hayes), were indicted by the U.S. government. The market reacted to the news with a sharp decline across many of Blockchain's biggest assets. This isn't the first time in recent months that BitMex has contributed to a downward turn. The exchange first began losing the trust of its participants following a blackout on Black Thursday …

HDR Global Trading Limited, the firm behind veteran crypto derivatives platform BitMEX, has undergone a corporate restructuring and will now be known as ‘100x Group.’ HDR announced the changes on July 15 and the Seychelles-based 100x will become the new holding structure for HDR and all other assets, including BitMEx. The announcement said the “new structure provides [the] group with more freedom to explore, incubate, and pursue new opportunities and investments.” There are also suggestions the company may expand into other ventures beyond BitMex. Facilitating investments The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo, and Sam …

BitMEX, one of the world’s largest crypto derivatives exchanges, has been accused in court of being “deliberately designed, from the ground up” to facilitate “a myriad of illegal activities.” The allegations were made in a major new lawsuit filed by BMA LLC in the United States District Court for the Northern District of California on May 16. The plaintiff accuses BitMEX’s parent company — HDR Global Trading — and the exchange’s top executives — Arthur Hayes, Ben Delo and Samuel Reed — of engaging in or abetting multiple crimes that include racketeering, money laundering, wire fraud and operating an unlicensed …

Paul Tudor Jones, a legendary hedge fund investor, triggered massive excitement in crypto markets yesterday by revealing that Bitcoin (BTC) is part of his portfolio. Traders and industry players like BitMEX’s CEO expect that the move will bring more big investors to the market. Arthur Hayes, CEO of the world’s second largest crypto exchange, BitMEX, says that Jones has just removed career risk from investing in cryptos like Bitcoin. “Expect a lot of beta fund managers to begin cooking some copypasta,” Hayes tweeted May 7. Jones paves the way for other hedge fund managers to get into Bitcoin Hayes is …