GBTC premium hits -34% all-time low as crypto funds ‘puke out’ tokens

The largest Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC), is now trading at its biggest ever discount to the spot market. Data from on-chain analytics resource Coinglass shows GBTC shares down 34% versus BTC/USD on major exchanges as of June 17. GBTC suffers in market downturn Amid continued turmoil in DeFi spilling over to … Read more

BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation

Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law. The sentence, handed down at a federal court in New York on June 15th, follows his guilty plea to charges in February of “willfully failing to establish, … Read more

Is the bottom in? Raoul Pal, Scaramucci load up, Novogratz and Hayes weigh in

Some of the highest-profile investors in crypto believe that a crypto market bottom is fast approaching — although one still warns of catastrophic outcomes should prices fall below established support levels.  Billionaire Mike Novogratz, the founder, chairman and CEO of digital asset merchant bank Galaxy Digital Holdings told a Morgan Stanley conference on June 13 … Read more

Bitmex Co-Founder Arthur Hayes Avoids Prison for Violating US Bank Secrecy Act – Regulation Bitcoin News

Bitmex co-founder Arthur Hayes is not going to prison for violating the U.S. Bank Secrecy Act. Instead, the former crypto exchange CEO has been sentenced to “six months of home detention and two years of probation.” Hayes has agreed to pay a fine of $10 million. Bitmex’s Arthur Hayes Sentenced The U.S. Department of Justice … Read more

Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap

Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes. Arthur Hayes, along with the other BitMEX co-founders — Benjamin Delo and … Read more

US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform – Regulation Bitcoin News

The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each. Bitmex’s Founders Fined $30 Million The Commodity Futures Trading Commission (CFTC) announced Thursday that the U.S. District Court for the … Read more