BitMEX former CTO Samuel Reed released from U.S. custody on $5 million bond

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Samuel Reed, the co-founder and former chief technology officer (CTO) of the BitMEX cryptocurrency trading platform, has been released from U.S. custody on a $5 million bond.

U.S. authorities arrested Reed in Massachusetts last week after the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) filed charges against him and his fellow BitMEX co-founders Arthur Hayes, Samuel Reed, and Ben Delo.

The CFTC alleged that Reed, Hayes, and Delo are operating the cryptocurrency trading platform without registration and violating the agency’s anti-money laundering procedures and other regulations.

The DOJ accused BitMEX co-founders Reed, Hayes, and Delo as well as its head of business development Gregory Dwyer of violating and conspiring to violate the Bank Secrecy Act. Hayes, Delo, and Dwyer remain at large.

A court document from the District Court of Massachusetts showed that Reed posted an unsecured appearance bond of $5 million, which will be secured by $500,000 cash.