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U.S. President Donald Trump has granted pardons to three co-founders and executives of the cryptocurrency exchange BitMEX. This groundbreaking development comes years after the trio pleaded guilty to financial crimes related to the Bank Secrecy Act (BSA). According to a CNBC report , Arthur Hayes, Benjamin Delo, and Samuel Reed, who co-founded digital asset firm BitMEX, were granted a presidential pardon on Friday, March 28th, 2025 As noted in our previous post, Arthur Hayes and Ben Delo pleaded guilty to violating the Bank Secrecy Act while at BitMEX’s helm. Each agreed to pay $10 million in penalties. Similarly, BitMEX was found guilty of operating without the necessary compliance measures with the right authorities. The trading firm was charged for illegal financial transactions on its platform. In addition, federal prosecutors stated that despite publicly claiming to restrict U.S. users, the exchange continued to serve them during the period it was charged for. A US District Judge pronounced a $100 million fine on the company earlier this year, concluding the case. Likewise, the founders and executives received different sentences, including probation alongside financial penalties. As we covered in our latest report, BitMEX co-founder Arthur Hayes was sentenced to six months of home confinement in May 2022, along with a two-year probation. Delo and Reed also received probation as part of their penance. With President Trump’s pardon, these BitMEX founders are now free from any legal consequences tied to their convictions. Following the presidential pardons, reactions in the digital asset community remain contentious. For example, supporters of the BitMEX executives argue that they were unfairly targeted and that enforcing financial regulations in the cryptocurrency industry has been inconsistent. Other community members believe the charges were necessary to uphold legal standards in digital finance. The US Department of Justice (DoJ) had maintained that BitMEX knowingly failed to comply with financial laws. Officials highlighted that the company’s lack of oversight created opportunities for illegal activities, which could have been prevented with proper policies. The case had been closely watched within the cryptocurrency industry, as it set a precedent for how regulators handle compliance failures in digital asset exchanges. In related news, Hawk Tuah girl Hailey Welch, popular for her connection with the controversial $HAWK token, has been cleared of wrongdoing after a lengthy investigation by the United States Securities and Exchange Commission (SEC). Meanwhile, Under President Donald Trump, regulatory trends around crypto have improved. As we mentioned in our previous news brief, the US SEC has dismissed its case with Ripple Labs, with the firm also closing its counter-appeal. Like Ripple, Coinbase, Uniswap, and Robinhood, among other firms, have also seen their respective legal cases closed.

Chinese gaming firm The9 secures $8M strategic investment from crypto investment funds The9 Limited, a Nasdaq-listed Chinese gaming company, has raised $8 million in strategic investment from three crypto investment funds, including Elune Capital, Fine Vision Fund and Bripheno

Timeline feeling fearful, but the daily chart looks fine. Higher low before attacking the monster resistance. Reclaim $90,000 and suddenly the market looks great. Patience until then. #Bitcoin

The price of XRP, the cryptocurrency created by Ripple Labs, has declined over the past few days, contrary to many users’ expectations. The cryptocurrency’s price tumbled, losing 17% of its value since last Wednesday after Ripple’s CEO Brad Garlinghouse announced that the case between the SEC and the FinTech firm has ended. Many crypto analysts consider the recent XRP trend disappointing, considering expectations that ending the case would promote bullish sentiments toward the altcoin and trigger an influx of buyers into its ecosystem. Instead, the digital asset has experienced a significant sell-off, dropping its price from $2.48 to $2.06 in less than four days. Related Article: Ripple SEC Settlement May Arrive by April, Says Lawyer Garlinghouse posted a video on X last Wednesday, telling the crypto community that the legal battle between Ripple and the SEC has ended. According to the Ripple CEO, the four-year-long case was doomed even before it started. Garlinghouse considered ending the case as proof that Ripple would be on “the right side of history.” Despite Ripple’s insistence that it was innocent of the SEC’s lawbreaking allegations, the litigation’s impact on the XRP was significant. The cryptocurrency’s price stalled amid massive crypto adoption and soaring prices of its counterparts like Bitcoin and Ethereum. Therefore, many retail crypto traders believed ending the case would be a significantly bullish signal for XRP. Related Article: XRP Rebound Potential: Ripple SEC Case Breakthrough & Trump’s Crypto Mention Spark Price Recovery Hopes In the meantime, it may be too early to conclude how ending the case would affect XRP’s price. According to reports, Ripple and the SEC agreed that the FinTech company would pay a $50 million fine instead of the originally proposed $125 million. Most crypto users consider the condition a win for Ripple and a positive sign for things to come. XRP has recovered slightly from the recent decline and traded for $2.18 at the time of writing, reflecting a 6.3% surge from the recent low, according to data from TradingView. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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