In a bombshell move, President Donald Trump has pardoned three co-founders of the BitMEX cryptocurrency exchange—Arthur Hayes, Benjamin Delo, and Samuel Reed—according to a CNBC report on Friday, March 28, 2025. The trio, once staring down serious federal charges tied to money laundering and regulatory lapses, got their get-out-of-jail-free cards on Thursday. It’s the latest in a string of crypto-related pardons from Trump, and it’s got the blockchain community buzzing.
From Legal Hot Water to Presidential Grace
BitMEX, a heavyweight in Bitcoin derivatives, has been under a legal cloud for years. Last July, the exchange pleaded guilty to violating the Bank Secrecy Act, with prosecutors slamming it for “willfully” skipping anti-money laundering (AML) checks from 2015 to 2020. They didn’t hold back on the co-founders either, accusing Hayes, Delo, and Reed of turning BitMEX into a “money laundering platform” while faking a U.S. exit that was, in their words, “a sham.” Earlier this year, BitMEX cougrehed up a $100 million fine to settle a multi-year battle with regulators—tough stuff for a platform once hailed as a crypto king.
But Trump’s pardon wipes the slate clean for the co-founders. CNBC says the move came down on Thursday, freeing Hayes, Delo, and Reed from the fallout of their guilty pleas to federal charges. It’s a dramatic twist for three figures who helped shape crypto’s wild early days—Hayes, in particular, a flamboyant voice in the space known for bold predictions and brash style.
Trump’s Crypto Pardon Spree
This isn’t Trump’s first rodeo with crypto clemency. Since taking office, he’s been making waves with high-profile pardons tied to digital assets. First up was Ross Ulbricht, the Silk Road mastermind whose dark-web marketplace put Bitcoin on the map—Trump set him free earlier this year. Then came whispers of more: reports swirled that Sam Bankman-Fried’s family was lobbying for a pardon for the disgraced FTX founder, while others claimed Binance’s ex-CEO Changpeng Zhao was in the mix too. Zhao shot down those rumors fast, but the chatter’s undeniable—Trump’s got a soft spot for crypto’s rogues.
The BitMEX pardon fits the pattern. It lands as CoinDesk reports BitMEX is hunting for a buyer, tapping Broadhaven Capital Partners to broker a sale just a month ago. Could Trump’s move juice up interest in the embattled exchange? Timing’s everything, and this feels like more than a coincidence.
Bigger Crypto Play?
Zoom out, and it’s clear Trump’s not just tossing pardons around for kicks. His administration cozying up to crypto big time. Trump’s inner circle is all in on blockchain, from railing against Biden-era bank crackdowns to backing a DeFi project set to launch a USD-pegged stablecoin. The Trump BitMEX pardon isn’t just a lifeline for Hayes and crew—it’s a signal to the industry: the White House is open for business.
For critics, it’s a head-scratcher. BitMEX’s rap sheet—failing to police trades, dodging AML rules—cost investors and regulators plenty. Letting the co-founders off the hook might rile up those who see it as a free pass for bad behavior. But for crypto fans, it’s a win, reinforcing Trump’s image as the sector’s unlikely champion.
BitMEX and Beyond
Where does this leave BitMEX? The exchange is still licking its wounds from fines and legal fights, and a sale could be its next chapter. For Hayes, Delo, and Reed, the pardon means freedom, though their reputations might take longer to recover. As for Trump, expect more crypto headlines. With every pardon, he’s doubling down on a narrative that’s got the market watching his every move.
