President Trump has just published a forgiveness for the three founders of Bitmex, who pleaded guilty of money laundering in 2022. Unlike the case of Ross Ulbricht, there was no popular movement for these pardons, aroused the confusion of the community.
Since the pardons have turned off, the chances of Polymarket by Sam Bankman to receive a forgiveness have soared. However, this has also created a feeling of discomfort, especially with scams and creeping crypto fraud today.
Trump emits Bitmex pardons
Bitmex is a centralized exchange with a long history in cryptographic space, but it faced its share of controversies. In 2020, he was prosecuted in the United States for money laundering.
Its founders, Arthur Hayes, Benjamin Delo, and Samuel Reed, pleaded guilty to raped the law on the secret of the bank, but President Trump just forgiven the three in a shocking decision.
Trump did nothing to make these pardons known, because neither he nor any of the recipients have yet made a public declaration concerning this decision. These men did not face fines, probation and resistance to houses, and all were completely free at the time. Arthur Hayes remains an influential commentator, but he has no more involvement with Bitmex.
Calling this unexpected movement would be an understatement. Trump gave other pardons linked to crypto, as with Ross Ulbricht, to be fair.
However, the case of Ulbricht was a famous cause in the community. There were no corresponding vocal calls to make Bitmex pardons, especially given the light sentences of the founders.
In short, most of the reactions of cryptographic space have been negative. At the time, even the government’s crypto allies as “Crypto Mom” Hester Peirce supported Bitmex arrests, and money laundering has never been popular in space. The cryptographic community is struggling to find a clear motivation for Trump’s pardons other than pure and simple corruption.
“My God, everything is for sale. I think he will forgive Sam Bankman Frit,” said author Jacob Silverman.
In recent months, the brain of the FTX Sam Bankman Frit and his family has put pressure on President Trump for forgiveness. The community mainly considered this possibility as a long -term shot, in particular because Bankman directly opposed Trump in the 2020 elections. Since Bitmex pardons, Bankman Fried polymarket ratings increased:
In short, it does not even seem that it will be optimistic for the markets. The cryptographic industry is in an unprecedented wave of scams, and some commentators fear that this does not affect the confidence of the industry. If Trump continues to issue pardons for no clear reason, it can embrace bad actors.
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