Bitcoin Whiz Kid Arthur Hayes Walks Free

TRUMP PARDONS BITMEX FOUNDERS, ARTHUR HAYES AND HEYING WANG, IN FINAL DAYS IN OFFICE

In a last-minute move, President Donald Trump has pardoned the founders of popular cryptocurrency trading platform BitMEX, Arthur Hayes and Heying Wang, just days before leaving office.

The news was announced by the White House on Tuesday, with a statement saying that the President had granted the pair clemency. The move comes as a surprise to many, as Hayes and Wang were facing up to 10 years in prison for violating the Commodity Futures Trading Commission (CFTC) regulations.

Hayes and Wang were accused of failing to register the company as a futures commission merchant, and of engaging in illegal activities related to the trading of bitcoin and other cryptocurrencies. The charges were brought against the pair in October 2019, and they had been fighting the allegations ever since.

The pardon has been met with widespread criticism from many in the financial and legal communities, who argue that it is unfair and undermines the rule of law. The CFTC had accused the pair of engaging in a "sophisticated" scheme to evade regulations and manipulate the market.

The move is also seen as a major blow to the regulatory efforts of the CFTC, which had been investigating BitMEX and other cryptocurrency trading platforms for potential violations of regulations.

The pardon has been welcomed by many in the cryptocurrency community, who see it as a major victory for the industry. However, it is likely to spark controversy and debate in the coming days and weeks.