Trump Pardons BitMEX Co-Founders, Speculation on More Crypto Pardons?

President Donald Trump has granted pardons to the co-founders of BitMEX—Arthur Hayes, Benjamin Delo, and Samuel Reed. The trio was found guilty in 2022 for violating the Bank Secrecy Act. Their company, BitMEX, was fined $100 million for failing to follow anti-money laundering rules. This decision has sparked fresh discussions in the digital finance world.

Arthur Hayes expressed his gratitude by tweeting, “Thank you, President Trump.” The pardon clears their records, giving them a fresh start. Many in the digital finance industry see this as a positive sign for the market, and many are questioning.

Trump move has raised speculation about other possible pardons. Some wonder if Terra’s Do Kwon could be next. The crypto community is closely watching how his actions might impact the industry. His latest decision has once again put him at the center of the digital finance debate.

Trump pardon of the BitMEX founders marks a major shift in U.S. crypto regulations. They had served prison time and paid $30 million in fines. Now, their legal troubles are over.

This move shows Trump’s softer stance on crypto crimes. Earlier, he also pardoned Ross Ulbricht, the founder of Silk Road. His actions suggest a shift in how crypto-related offenses are treated.

Peter Schiff Criticizes Trump’s Crypto Pardons

The digital finance world is excited about pardons, but not everyone is happy. Peter Schiff , a well-known Bitcoin critic, criticized Trump’s decision. He said he disagrees with most anti-money laundering laws, but still believes the pardoned executives were guilty.

Schiff also shared his own experience with the IRS. He said they tried for years to charge him with AML violations but failed. According to him, his bank had clean records, so there was nothing to accuse him of. His comments have added to the debate over Trump's latest move.

Source: X post

Trump Also Pardons Nikola Founder Trevor Milton

President Donald Trump has also pardoned Trevor Milton, the founder of Nikola Corp. Milton was convicted in 2022 for lying to investors about the success of his electric truck company. He was sentenced to four years in prison in December 2023 but remained free while appealing his case.

Before the pardon, prosecutors asked the court to make Milton pay $680 million to Nikola shareholders and $15.2 million to a fraud victim. However, President pardon means the judge can no longer order him to pay any restitution. This decision has sparked debate over justice for investors who lost money.

Could Do Kwon Be Next?

Many in the digital finance community are closely watching the legal battle between Terra and the SEC. Some believe that his recent pardons could help Do Kwon and others facing charges. His case is one of the most talked-about due to the serious claims about Terra’s collapse. If the President were to grant a pardon to Kwon, it could have a major impact on the digital finance market. It might restore confidence in Terra and encourage more investors to support the project again. Additionally, it could change how digital finance companies handle regulations and legal challenges in the future. For now, the industry waits to see if he will continue his streak of pardoning crypto figures.

If the President were to grant a pardon to Kwon, it could have a major impact on the digital finance market. It might restore confidence in Terra and encourage more investors to support the project again. Additionally, it could change how crypto companies handle regulations and legal challenges in the future. For now, the industry waits to see if he will continue his streak of pardoning crypto figures.