Fugitive executives of crypto derivatives exchange BitMEX have been discussing a surrender agreement with the U.S. government.
Last October, BitMEX CEO Arthur Hayes and four of the exchange’s executives and co-owners were charged by the U.S Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) for violating the Bank Secrecy Act and for money laundering.
Currently, Hayes is residing in Singapore, but per court transcripts obtained by sources familiar with the talks, the former BitMEX CEO will surrender to the U.S. government on April 6, in Hawaii. According to Jessica Greenwood, the U.S. assistant attorney in charge of the case, Hayes intends to continue living abroad, but has agreed to appear in New York for trial if needed.
She said: “We have discussed with counsel how to arrange for a voluntary surrender, and he has proposed appearing within the United States in Hawaii and having his initial appearance there and then […] The idea would be that he would appear initially in Hawaii, then appear before your Honor remotely. And then he would continue to reside abroad with travel to the United States for appearances as needed.”
Greenwood also disclosed that Ben Delo, BitMEX’s co-owner, will also potentially surrender in New York at the end of the month. As for the remaining defendants, it is uncertain whether they will cooperate with US authorities like Hayes and Delo and surrender. Currently, it is still in talks as to how and when they will appear.
BitMEX charged by CFTC and DoJ
Last October, the CFTC charged BitMEX lead officials for illegally operating in the United States. A civil enforcement action was filed against CEO Arthur Hayes, and co-founders Samuel Reed and Ben Delo. The CFTC accused them of failing to implement mandatory Know-Your-Client (KYC) regulations and anti-money laundering (AML) policies.
Per the official complaint, the CFTC alleges that BitMEX was illegally offering leverage retail commodity transactions, options, futures, and swaps on cryptocurrencies – enabling platform users to employ leverages of up to 100x and generate exaggerated profits from minor fluctuations in crypto prices.
Last October, BitMEX CEO Arthur Hayes and four of the exchange’s executives and co-owners were charged by the U.S Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) for violating the Bank Secrecy Act and for money laundering.
Currently, Hayes is residing in Singapore, but per court transcripts obtained by sources familiar with the talks, the former BitMEX CEO will surrender to the U.S. government on April 6, in Hawaii. According to Jessica Greenwood, the U.S. assistant attorney in charge of the case, Hayes intends to continue living abroad, but has agreed to appear in New York for trial if needed.
She said: “We have discussed with counsel how to arrange for a voluntary surrender, and he has proposed appearing within the United States in Hawaii and having his initial appearance there and then […] The idea would be that he would appear initially in Hawaii, then appear before your Honor remotely. And then he would continue to reside abroad with travel to the United States for appearances as needed.”
Greenwood also disclosed that Ben Delo, BitMEX’s co-owner, will also potentially surrender in New York at the end of the month. As for the remaining defendants, it is uncertain whether they will cooperate with US authorities like Hayes and Delo and surrender. Currently, it is still in talks as to how and when they will appear.
BitMEX charged by CFTC and DoJ
Last October, the CFTC charged BitMEX lead officials for illegally operating in the United States. A civil enforcement action was filed against CEO Arthur Hayes, and co-founders Samuel Reed and Ben Delo. The CFTC accused them of failing to implement mandatory Know-Your-Client (KYC) regulations and anti-money laundering (AML) policies.
Per the official complaint, the CFTC alleges that BitMEX was illegally offering leverage retail commodity transactions, options, futures, and swaps on cryptocurrencies – enabling platform users to employ leverages of up to 100x and generate exaggerated profits from minor fluctuations in crypto prices.
Ripple faces challenging barriers toward $0.5, but a technical breakout is still in the offing.
A golden cross pattern will signify the return of the bulls in the market.
The MACD indicator signals the possibility of consolidation taking precedence in the short-term.
Ripple’s bulls are focused on recovery despite the lethargic price action across the cryptocurrency market. A recent swing north failed to complete the leg to $0.5, hitting a barrier at $0.47. The correction that ensued tested the support at $0.44, poking the buyers on the sidelines to jump in and push for higher levels.
The cross-border cryptocurrency is exchanging hands at $0.45 at writing. On Wednesday, the bullish action stalled at $0.46, forcing the price to retest the inverted head-and-shoulders (H&S) pattern’s neckline.
A reversal is expected in the near-term because the bullish H&S pattern still has a 14% target of $0.51. Note that a bounce from the neckline support is regarded as bullish in technical analysis and could boost XRP significantly upwards.
The hourly chart shows the possibility of a golden cross pattern forming in the short-term. This pattern comes into the picture when a shorter-term moving average crosses above the longer-term moving average. For example, the 50 SMA is about to cross above the 200 SMA.
Bulls have to focus on sustaining the price above $0.45 to focus on breaking above the hurdles at $0.45 and $0.5. The impact of the inverted H&S pattern is still apparent. Therefore, the least resistance path is upwards
A golden cross pattern will signify the return of the bulls in the market.
The MACD indicator signals the possibility of consolidation taking precedence in the short-term.
Ripple’s bulls are focused on recovery despite the lethargic price action across the cryptocurrency market. A recent swing north failed to complete the leg to $0.5, hitting a barrier at $0.47. The correction that ensued tested the support at $0.44, poking the buyers on the sidelines to jump in and push for higher levels.
The cross-border cryptocurrency is exchanging hands at $0.45 at writing. On Wednesday, the bullish action stalled at $0.46, forcing the price to retest the inverted head-and-shoulders (H&S) pattern’s neckline.
A reversal is expected in the near-term because the bullish H&S pattern still has a 14% target of $0.51. Note that a bounce from the neckline support is regarded as bullish in technical analysis and could boost XRP significantly upwards.
The hourly chart shows the possibility of a golden cross pattern forming in the short-term. This pattern comes into the picture when a shorter-term moving average crosses above the longer-term moving average. For example, the 50 SMA is about to cross above the 200 SMA.
Bulls have to focus on sustaining the price above $0.45 to focus on breaking above the hurdles at $0.45 and $0.5. The impact of the inverted H&S pattern is still apparent. Therefore, the least resistance path is upwards
XRP/USD price chart by Tradingview
The Relative Strength Index (RSI) brings to light the possibility of consolidation taking precedence before the breakout occurs. The same sideways trading is echoed by the Moving Average Convergence Divergence (MACD), as it levels marginally above the midline.
Ripple intraday levels
Spot rate: $0.448
Relative change: -0.00034
Percentage change: 0.1%
Trend: Short-term bearish bias
Volatility: Low
The Relative Strength Index (RSI) brings to light the possibility of consolidation taking precedence before the breakout occurs. The same sideways trading is echoed by the Moving Average Convergence Divergence (MACD), as it levels marginally above the midline.
Ripple intraday levels
Spot rate: $0.448
Relative change: -0.00034
Percentage change: 0.1%
Trend: Short-term bearish bias
Volatility: Low
Bitcoin Cash, Tron, Elrond Price Analysis: 04 March
Bitcoin Cash was trading just above a level of support at $507 as bearish momentum took sway. Tron and Elrond appeared to regain some bullish momentum though as while Tron climbed past $0.05, EGLD broke out of its descending channel pattern over the past few days.
Bitcoin Cash was trading just above a level of support at $507 as bearish momentum took sway. Tron and Elrond appeared to regain some bullish momentum though as while Tron climbed past $0.05, EGLD broke out of its descending channel pattern over the past few days.