What happened to BitMEX founder Arthur Hayes?

The epic rise and fall of BitMEX impacted founder Arthur Hayes. Arthur Hayes stepped down as CEO of BitMEX in October 2020. After getting fired from his job as an ETF market maker for Deutsche Bank and Citibank in 2013, Hayes developed BitMEX. The platform serves as a way for people to use Bitcoin to conduct international trading.

How much money did Steve Hayes Swindle from BitMEX?

As the founder of BitMEX, Hayes likely retained a large chunk of the company's revenue. However, the charges against him suggest that he and fellow indicted BitMEX executives swindled as much as $440 million. While Hayes's net worth isn't public information, some speculate that he's worth $500 million.

Who is behind BitMEX?

The founding team at BitMEX consists of best-of-class professionals in finance, web development, and high-frequency algorithmic trading. After graduating with a degree in economics from the Wharton School of Business, Arthur lived in Hong Kong as an equity derivatives trader.

Why did BitMEX pay a $100 million fine?

BitMEX agreed to pay a $100 million fine to resolve the issue, without admitting or denying the charges. On February 24, 2022, Hayes, along with co-founders Benjamin Delo and Samuel Reed, and Gregory Dwyer pleaded guilty to "willfully failing to establish, implement, and maintain an anti-money laundering (“AML”) program at BitMEX."