On March 28, 2025, U.S. President Donald Trump pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed. However, actions against CZ, former CEO of Binance, continue to attract attention.
BitMEX Co-Founders Pardoned
In 2020, the U.S. Department of Justice charged BitMEX’s leadership with violations of anti-money laundering and know-your-customer regulations. Despite restrictions, the platform facilitated over $1 billion in U.S. trades. The co-founders pleaded guilty in 2022 and received lenient sentences with hefty fines. Trump's pardon in 2025 signaled a crypto-friendly stance.
CZ Binance: Jail Time, No Pardon?
In 2023, CZ pleaded guilty to similar charges at Binance. He paid a $50 million fine and served four months in prison. Despite similarities with BitMEX’s case, CZ has not received a pardon, raising questions, especially in the MENA region.
Different Cases, Different Stakes?
While the charges overlap, the scale and political implications differ. Binance’s violations included sanctions breaches, adding national security concerns. Timing may have played a role as CZ's case was before Trump’s shift towards crypto leniency in 2025.
Trump pardoned BitMEX, but why not CZ Binance? Perhaps the scale or political negotiations are key factors. This question remains open.
