BitMEX CTO Samuel Reed Released On A $5 Million Appearence Bond

• A few days after being charged and arrested by the US Department of Justice, BitMEX CTO Samuel Reed has been released on a $5 million appearance bond.

• The court document reads that the bond was approved on October 3rd. 

• His release came with two conditions. Those are: Reed has to appear for court proceedings, and if convicted, to “surrender to serve a sentence that the court may impose.”

• The statement also informed that the $5 million bond is secured by $500,000 in cash. 

• As reported by CryptoPotato last week, BitMEX owners and executives came unto scrutiny from the US Commodity and Futures Trading Commission. Alongside Reed, the CFTC charged Arthur Hayes and Ben Delo with illegally operating a derivatives exchange.

• The US Attorney for the District of New York also indicted the trio and Gregory Dwyer on federal charges of violating the Bank Secrecy Act and conspiracy to violate the Bank Secrecy Act.

• Multiple reports on the matter claimed that Reed was arrested at the time.

• The popular Bitcoin derivatives exchange is already feeling the effects of these developments. Arthur Hayes stepped down as BitMEX CEO, replaced by the Chief Operating Officer at 100x Group – Vivien Khoo.  

The post BitMEX CTO Samuel Reed Released On A $5 Million Appearence Bond appeared first on CryptoPotato.