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Fact check: Why did trump pardon a corporation called bitmex?
1. Summary of the results
President Trump issued pardons to BitMEX's corporate entity (HDR Global Trading) and its four co-founders: Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer [1] [2]. This was a historically significant action as it marked the first time a corporation received a full presidential pardon [1]. The pardons were issued quietly, without any public announcement [2].
2. Missing context/alternative viewpoints
- The original question omits crucial background about BitMEX's legal troubles:
The company had pleaded guilty to violating the Bank Secrecy Act [1]
BitMEX was previously fined $100 million for failing to establish adequate anti-money laundering and know-your-customer programs [2]
Each co-founder had individually:
Pleaded guilty to federal charges [3]
3. Potential misinformation/bias in the original statement
The question's phrasing suggests a simple pardon of a corporation, but the reality is more complex:
- The pardon actually covered both the corporate entity and multiple individuals [1]
- The pardons effectively nullified:
A $100 million corporate fine [1]
Individual penalties and probation sentences [2]
Those benefiting from this pardon include:
- BitMEX's corporate entity (HDR Global Trading), which avoided significant financial penalties
- The four co-founders who escaped both financial penalties and probation sentences
- Potentially the broader cryptocurrency industry, as this pardon could set a precedent for similar cases