Bitmex CTO Released from Arrest on $5M Bond

Bitmex CTO Released from Arrest on $5M Bond

By Abhimanyu Krishnan | News | 9 Oct 2020


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

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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