BitMEX co-founder and ex-CEO Arthur Hayes has requested Manhattan federal judge for not sending him behind the bars and also freedom to reside abroad and travel freely.
Following a plea agreement that resulted in a jail sentence of six to twelve months per federal guidelines, his lawyer submitted a petition for probation with no home detention or imprisonment. His lawyer submitted a 65-page brief featuring images and letters from followers. The government has not yet offered a sentence recommendation. His lawyers claimed that the issue has had an “extraordinary” influence on Authur Hayes’ career and life.
Authur Hayes, co-founded BitMEX, a popular face in crypto world
Authur Hayes, a former Citigroup stocks broker, co-founded BitMEX in 2014. He became one of the most powerful figures in the cryptocurrency business as his trade emerged as the major derivatives platform of the crypto market. Unfortunately In February, Arthur Hayes was found guilty in October 2020 for violating the Bank Secrecy Act.
Hayes allegedly bragged of paying Seychelles-based authorities with coconuts. The court, however, barred the government from making this “very offensive” remark during proceedings, determining that it was only a joke.
The Commodity Futures Trading Commission also launched a legal complaint against the embattled exchange. It submitted a $100 million penalty to settle with the commission in August.
Despite his impending imprisonment, Hayes continues to operate in the crypto world, recently he predicted that Bitcoin’s price may reach $1 million.
