BitMEX CTO Samuel Reed has been released on a $5 million appearance bond, according to a court document published on October 10.
- Reed was arrested by the Department of Justice on October 1, with a court hearing taking place virtually
- Reed was released on an unsecured bond of $5 million and $500,000 in cash
- Along with other BitMEX executives, including CEO Arthur Hayes, Reed has been sued by the New York Attorney’s Office for violating the Bank Secrecy Act
- The release was approved on the condition that Reed would appear in court and surrender to a court sentence if convicted
- The case has resulted in a tremendous exodus from BitMEX, with Hayes stepping down as CEO; the company itself has said that it would continue to operate as normal