Arthur Hayes

Arthur Hayes is the founder and former CEO of the digital asset trading platform BitMEX, as well as its parent company, the 100x Group. He stepped down as CEO in October 2020.
== Overview ==
Hayes worked as a derivatives trader at Deutsche Bank AG and Citigroup for several years. He was reportedly bored by the traditional financial services industry, and became interested in cryptocurrency asset trading, which he regards as similar to traditional asset trading in the '80s and '90s.
Hayes gained an interest in bitcoin in the early 2010's, and soon began trading. He was among the customers of the now-defunct bitcoin exchange Mt. Gox who lost some of his bitcoins when the exchange was hacked in 2013. 
In 2014 Hayes began planning the launch of BitMEX in 2014, along with Oxford graduate, mathematician, and programmer Ben Delo, as well as coder and tech enthusiast Sam Reed.
In July 2020 HDR Global Trading, the parent company of BitMEX, announced that it would restructure into a new holding company called the 100x Group, which would be the new holding company for the BitMEX platform and its related assets. The announcement said that with the new corporate structure 100x would "pursue a broader vision to reshape the modern digital financial system into one which is inclusive and empowering." Many interpreted this as a sign that BitMEX was gearing up to branch out, making new products and offering new services outside of the cryptocurrency trading space. In a blog post on BitMEX's website, CEO Arthur Hayes said the new structure of the company will provide BitMEX with "more freedom to explore, incubate and pursue new opportunities and investments, whilst remaining entirely committed to enhancing BitMEX’s leadership position." He also said that the legal structure of BitMEX would not change.
=== Legal Issues ===
On October 1, 2020 both the CFTC and the U.S. Department of Justice (DOJ) announced charges against HDR Holdings and its subsidiaries and affiliates which together operate BitMEX parent, as well as HDR's owner founders, Arthur Hayes, Ben Delo, and Samuel Reed. In its civil complaint, the CFTC accused the defendants of operating an unregistered derivatives trading platform that solicited business from and conducted business with U.S. residents. The CFTC also alleged that BitMEX did not comply with U.S. anti-money laundering requirements. In its indictment that was unsealed the same day, the DOJ charged HDR Holdings, its subsidiaries and affiliates, the three owner founders of HDR, and Gregory Dwyer, the head of business development, with violating and conspiring to violate the Bank Secrecy Act by not implementing an anti-money laundering program. Reed, the CTO, was taken into custody in Massachusetts by federal law enforcement on October 1, 2020, while the other executives remained "at large" in the DOJ's terminology. A week later, BitMEX announced that it had made changes to its leadership, which included Arthur Hayes stepping down as CEO.
In March 2021, a court filing revealed that Hayes had discussed surrendering to U.S. authorities on April 6, 2021; the court filing was tweeted about on Wednesday, March 3 by Pavel Pogodin, a representative for the plaintiffs in civil proceedings against BitMEX and its founders. Hayes, who resides in Singapore, was in the process of discussing arrangements that would allow him to remain living abroad and travel to Hawaii to appear remotely in New York for court appearances, eventually appearing in New York personally, according to a court transcript of Jessica Greenwood, assistant U.S. attorney in Manhattan.
== Education ==
Hayes has a bachelor's degree from the University of Pennsylvania Wharton School of Business.
==References==
Category: people
Category: blockchain
Category: criminal activity
Category: CryptoMarketsWiki