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BitMEX Executives to Face Trial in March 2022

BitMEX’s former executives Arthur Hayes, Benjamin Delo, and Samuel Reed will face trial in March 28th, 2022.

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The executives of the derivatives trading platform – BitMEX – will face trial in March next year. The money laundering case will come 18 months after charges were first filed. The former members of BitMEX can face up to 5 years in prison and a $250,000 fine if found guilty.

The Trio Heads to Trial

Last year, US officials accused the CEO of the company Arthur Hayes, the co-founder Benjamin Delo, and the chief technology officer Samuel Reed of violating the Bank Secrecy Act. Moreover, the members of BitMEX were served with money-laundering charges.

On May 11th – 18 months after the first accusations against them – New York District Judge John Koeltl set the trial date for March 28th, 2022. Furthermore, Gregory Dwyer – BitMEX’s head of business development – also faces charges but will appear in court separately.

Even though the company’s headquarters are in the Seychelles, the US Department of Justice accused BitMEX of failing to apply anti-money laundering procedures while doing business with US-based customers.

Interestingly enough, the ex-CEO of BitMEX – Arthur Hayes – said that the exotic island was a more convenient place for business as it was much easier to bribe Seychelles’ authorities rather than the US ones. The former executives of the cryptocurrency exchange could face a maximum of five years in prison and a $250,000 fine.


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Where Was Arthur Hayes?

Attorney Jessica Greenwood told the court that Hayes has ”discussed a surrender date of April 6th, 2021 in Hawaii.” She added that ”the plan is to notify the Court in advance of that appearance and discuss logistics” around his submission.

As CryptoPotato reported, even after his remote announcement Hayes continued to reside abroad and explained that he would only visit the United States whenever has to face the trial in New York.

In the end, the former BitMEX CEO indeed turned himself in on April 6th, 2021. However, the officials released him on a $10 million bond pending the future court process.

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Source: https://cryptopotato.com/bitmex-executives-to-face-trial-in-march-2022/

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dotmoovs Raises $840,000 From Strategic Investors and Partners

[Press Release – Tallinn, Estonia, 12th May, 2021] dotmoovs, an NFT platform powered by advanced computer vision algorithms has successfully completed a private funding round of $840,000 from notable investors. Amongst the investors are Moonrock Capital, Morningstar Ventures, Spark Digital Capital, Ascensive Assets, Rarestone, Building Blocks, MarketAcross, AU21 and GBV Capital. The sports industry needs […]

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[Press Release – Tallinn, Estonia, 12th May, 2021]

dotmoovs, an NFT platform powered by advanced computer vision algorithms has successfully completed a private funding round of $840,000 from notable investors. Amongst the investors are Moonrock Capital, Morningstar Ventures, Spark Digital Capital, Ascensive Assets, Rarestone, Building Blocks, MarketAcross, AU21 and GBV Capital.

The sports industry needs a solution for giving everyone a real chance to earn from their skills. dotmoovs is designed to bridge the gap between physical and geographic limitations, assessment of skill and finally – monetisation. Our vision is to build a powerful sports platform where everyone can challenge their friends or any other similar skilled players in the World for a challenge in their favourite sport.

“We are proud to have such notable investors joining us in building the first crypto mobile worldwide sports competitive environment. We know they can boost our growth and provide industry specific insight and knowledge which will be a deciding factor for us” said Ricardo Martins Costa, head of growth of dotmoovs.

“Our vision is a robust platform powered by blockchain and a state-of-the-art AI system that can analyse videos of players performing sports challenges in real-time” Ricardo adds.

“Moonrock Capital and Morningstar Ventures have come together to assist in incubating and bringing the dotmoovs project together. We are grateful and honored by the trust shown by dotmoovs’ team to become their official incubators and lead investors. Working closely with the team for some time now, we are highly impressed with their professionalism, expertise, and what they’ve developed so far. We are very excited to see this ambitious and revolutionary project come to life – combining sports, blockchain, and NFTs with dotmoovs’ vision of growth. The level of their supporting technology is not something we see every day. For these reasons, we are thrilled to be a part of dotmoovs’ journey and helping them achieve their vision.” said Simon Dedic, Managing Partner Moonrock Capital, and Danilo Carlucci, CIO Morningstar Ventures.

About dotmoovs

dotmoovs is the first crypto mobile worldwide competitive environment. The platforms allow users to compete with others around the world just by bringing their skills, ambition, and smartphone. dotmoov’s AI-based video referee will assess their performance in real-time. Powered by blockchain technology, sport competition will enable fair challenges and access to unique digital assets.

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Source: https://cryptopotato.com/dotmoovs-raises-840000-from-strategic-investors-and-partners/

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Bitcoin Has a Long Way to Go Says Bain Capital’s Chairman

The Chairman of the investment firm Bain Capital believes that BTC is far away from being a viable currency but it could be better than gold.

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Steve Pagliuca – Chairman of Bain Capital – opined that Bitcoin is hard to be seen as a viable currency yet. According to him, the stability of the primary cryptocurrency is not satisfactory and it has a long way to go to be accepted in lots of places.

Additionally, Pagliuca commented on arguably the hottest trend in the crypto space lately – Dogecoin – as he called it a ”prescription for a disaster.”

BTC Is Not a Viable Currency

Steve Pagliuca shared his thoughts on Bitcoin in a recent Bloomberg interview. Bain Capital’s Chairman outlined the potential of the digital asset but alarmed that it is hard to be seen as a viable currency at the moment and is far from receiving mass adoption.

”It’s hard for me to wrap my mind around bitcoin being a viable currency. Bitcoin is going to have to go a long way to go to be accepted in lots of places.”

However, Pagliuca made an interesting comparison between the primary cryptocurrency and gold. In his opinion, the digital asset is actually more efficient than the precious metal as it can be used as a value transferring instrument. Pagliuca opined that when people criticize BTC they should criticize gold too as the value of the yellow metal is based on what people think about it.

The Chairman of Bain Capital surmised that the blockchain technology is ”fantastic” but he also alerted that if BTC keeps its massive invasion eventually it can threaten the stability of the global financial system.


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Steve Pagliuca. Source: Bloomberg
Steve Pagliuca. Source: Bloomberg

DOGE Could Be a Disaster

The crypto community and numerous outsiders have been focused on Dogecoin lately, resulting in a spectacular price surge for the meme token. As such, Pagliuca was also asked about it.

Despite the support and sympathy which Elon Musk and Mark Cuban have shown for the meme coin, Pagliuca shared a highly unfavorable opinion about it:

”Dogecoin seems like a prescription for a disaster. I am the last person who wants to call it valuable. It could be fun to buy DOGE but I wouldn’t bet my savings on it.”

Is Bitcoin Really Similar to Gold?

Steve Pagliuca is not the first prominent name to compare the primary cryptocurrency with the precious metal. The American entrepreneur and billionaire – Mark Cuban – opined on the topic, too.

During a recent interview, Cuban noted that the digital asset together with gold are ”financial religions.” However, he went further by saying that Bitcoin is the better option as it ”enables the transfer of value locally and globally.”

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