Lawrence is an experienced gold, silver & bitcoin investor, with a BA in Economics, & MBA with Distinction from Harvard Business School. We had a great chat, dive in!
These types of ‘strange’ events are going to make explaining (any form) crypto to the masses a bit more difficult as these actions could create wild swings of value. Wasn’t the goal of crypto to reduce criminal activities?
Trump’s pardon of HDR Global Trading, the owner and operator of crypto exchange BitMEX, was issued at the same time as pardons for three of the company’s co-founders and one of its employees.
Just like people, corporations can be convicted of crimes. While they cannot be sentenced to prison, they can face fines and serious consequences such as being barred from federal contracts.
HDR Global Trading is incorporated in the Seychelles, an Indian Ocean island nation that has been dubbed ahttps://cthi.taxjustice.net/countries/seychellesby the Tax Justice Network.
The company pleaded guilty last July. Two months ago, a federal judge handed it a $100 million fine and two years’ probation. The fine was supposed to be paid within 60 days of the judgment’s entry into the court record. The company said it had not paid the fine before receiving the pardon. The timing of Trump’s pardon means the company avoided the fine deadline by hours.
“The BitMEX platform will continue to lead the market as the safest, most trusted, financially-stable, and professionally operated crypto derivatives exchange, employing new products and innovations month by month to many satisfied users,” the company said.
If the company had paid the judgment, legal scholars said, there would be no refund.
Ok. Figured out how to “Like” finally. Still, for your efforts, here’s a few more emojis of appreciation. Best. 🥁🤹♂️🎖️🥇
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E,
These types of ‘strange’ events are going to make explaining (any form) crypto to the masses a bit more difficult as these actions could create wild swings of value. Wasn’t the goal of crypto to reduce criminal activities?
https://theintercept.com/2025/04/02/trump-pardons-corporation-bitmex-crypto/
BitMEX’s Big Break
Trump’s pardon of HDR Global Trading, the owner and operator of crypto exchange BitMEX, was issued at the same time as pardons for three of the company’s co-founders and one of its employees.
Just like people, corporations can be convicted of crimes. While they cannot be sentenced to prison, they can face fines and serious consequences such as being barred from federal contracts.
The company and the four employees, https://www.vanityfair.com/news/2021/02/the-rise-and-fall-of-bitcoin-billionaire-arthur-hayes, pleaded guilty to violating the Bank Secrecy Act, which requires businesses to take steps to prevent money laundering.
Prosecutors said the company pretended to pull out of the U.S. market to avoid complying with the law, but https://www.justice.gov/usao-sdny/pr/founder-and-ceo-shore-cryptocurrency-derivatives-platform-sentenced-violating-bank even seeking out U.S.-based influencers to market its platform.
HDR Global Trading is incorporated in the Seychelles, an Indian Ocean island nation that has been dubbed ahttps://cthi.taxjustice.net/countries/seychellesby the Tax Justice Network.
The company pleaded guilty last July. Two months ago, a federal judge handed it a $100 million fine and two years’ probation. The fine was supposed to be paid within 60 days of the judgment’s entry into the court record. The company said it had not paid the fine before receiving the pardon. The timing of Trump’s pardon means the company avoided the fine deadline by hours.
BitMEX says it still https://www.bitmex.com/restricted-jurisdiction-policy. In a statement, the company thanked Trump.
“The BitMEX platform will continue to lead the market as the safest, most trusted, financially-stable, and professionally operated crypto derivatives exchange, employing new products and innovations month by month to many satisfied users,” the company said.
If the company had paid the judgment, legal scholars said, there would be no refund.
Under 1877 Supreme Court https://caselaw.findlaw.com/court/us-supreme-court/95/149.html, the president’s pardon power “cannot touch moneys in the treasury of the United States, except expressly authorized by act of Congress.”