BitMEX Co-Founder Ben Delo Released on $20M Bond after Surrender
- The terms of the bail allow him to go return to the United Kingdom.
Benjamin Delo, one of the three Co-Founders of BitMEX, has surrendered to the United States authorities for the criminal charges brought against him for violation of the country’s Banking Secrecy Act.
He traveled from the United Kingdom to New York and was arraigned before US Magistrate Judge Sarah L. Cave on Monday for a remote proceeding. He pled not guilty and was released on a $20 million bail bond. The terms of his bail allow him to travel back to the United Kingdom.
“The charges against Ben are unfounded and represent unwarranted overreach by the US authorities,” a spokesperson for Delo told Bloomberg. “Ben intends to defend himself against the charges and clear his name in court.”
Two Surrerendered, but Two More to Go
Delo, an Oxford-trained computer scientist, built crypto derivatives Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, BitMEX with his two fellow Co-Founders, who are also facing similar charges from the US prosecutors.
Samuel Reed was arrested by the authorities days after the charges were brought against BitMEX and its Co-Founders, and was released on a bail bond. Arthur Hayes, the former CEO and poster boy of the exchange, is still at large and currently in Singapore.
An assistant US attorney earlier told the court that the prosecutors are in talks with the legal representatives of BitMEX Co-Founders, and both Delo and Hayes are considering surrendering but on certain terms.
However, Gregory Dwyer, who was the first BitMEX employee named in the criminal lawsuit, denied voluntary surrender.
While Delo’s surrender came, there has been no update on Hayes as yet, and it is unknown how the talks between the prosecutors and his lawyers are going. Earlier, the assistant attorney revealed that Hayes wants similar conditions of continuing to stay in Singapore and remote initial hearings.
Benjamin Delo, one of the three Co-Founders of BitMEX, has surrendered to the United States authorities for the criminal charges brought against him for violation of the country’s Banking Secrecy Act.
He traveled from the United Kingdom to New York and was arraigned before US Magistrate Judge Sarah L. Cave on Monday for a remote proceeding. He pled not guilty and was released on a $20 million bail bond. The terms of his bail allow him to travel back to the United Kingdom.
“The charges against Ben are unfounded and represent unwarranted overreach by the US authorities,” a spokesperson for Delo told Bloomberg. “Ben intends to defend himself against the charges and clear his name in court.”
Two Surrerendered, but Two More to Go
Delo, an Oxford-trained computer scientist, built crypto derivatives Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, BitMEX with his two fellow Co-Founders, who are also facing similar charges from the US prosecutors.
Samuel Reed was arrested by the authorities days after the charges were brought against BitMEX and its Co-Founders, and was released on a bail bond. Arthur Hayes, the former CEO and poster boy of the exchange, is still at large and currently in Singapore.
An assistant US attorney earlier told the court that the prosecutors are in talks with the legal representatives of BitMEX Co-Founders, and both Delo and Hayes are considering surrendering but on certain terms.
However, Gregory Dwyer, who was the first BitMEX employee named in the criminal lawsuit, denied voluntary surrender.
While Delo’s surrender came, there has been no update on Hayes as yet, and it is unknown how the talks between the prosecutors and his lawyers are going. Earlier, the assistant attorney revealed that Hayes wants similar conditions of continuing to stay in Singapore and remote initial hearings.