LTC News: Donald Trump Pardons BitMEX Co-Founders

In a surprising turn of events, President Donald Trump has granted a presidential pardon to the three co-founders of the crypto exchange platform BitMEX, Arthur Hayes, Benjamin Delo, and Samuel Reed. Here’s what you need to know about this unprecedented decision and its potential impact on the cryptocurrency industry.

Donald Trump Pardons The Founders Of BitMEX

In a strong gesture marking the first 100 days of his second term as President of the United States, Donald Trump has officially granted a presidential pardon to the three co-founders of the crypto exchange platform BitMEX: Arthur Hayes, Benjamin Delo, and Samuel Reed. The trio were convicted in 2022 for violating the Bank Secrecy Act by neglecting to implement effective anti-money laundering (AML) systems and customer identity verification (KYC). As a result, BitMEX was fined $100 million in January 2025 and placed on probation for two years. Trump’s decision to clear the criminal records of these prominent figures in the crypto sector is believed to be part of a broader strategy. BTC, the primary cryptocurrency traded on BitMEX, and other coins like ETH, LTC, and BSV may see some market reaction to this news. Major exchanges such as Binance, Coinbase, and FTX will also be watching closely to see how this development impacts the broader cryptocurrency market.

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FDIC Rescinds Pre-Approval Requirement for Banks Engaging with Cryptocurrencies

The U.S. Federal Deposit Insurance Corporation (FDIC) has rescinded a policy that previously required banks to seek pre-approval before engaging in crypto-related activities. The FDIC notified institutions under its supervision of this new development in a letter issued on April 7, 2022, and clarified in a press release on March 28, 2025, that FDIC-supervised institutions are now free to engage in permissible crypto-activity without FDIC approval. This change is expected to pave the way for more banks to enter the cryptocurrency market, potentially increasing adoption and liquidity for various digital assets including BTC, ETH, LTC, and others.