Benjamin Delo, co-founder of crypto exchange BitMEX will not face prison after a guilty plea but spend 30 months on probation. He was sentenced in New York federal court on Wendesday for violating US anti-money-laundering regulation.
As part of a deal with prosecutors and the CFTC, Delo also paid a $10 million criminal fine. He pleaded guilty in February to a count of violating the Bank Secrecy Act.
The saga began in October 2020, when the CFTC filed a complaint against BitMEX trading platform and its co-founders for operating the business from the US without any license.
Two other co-founders of BitMEX, Arthur Hayes and Samuel Reed, have also pleaded guilty to defying AML rules. Hays was already sentenced in May to serve six months in house arrest and two years’ probation. Reed will be sentenced in July.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.