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Former President Donald Trump has pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed. The three had previously pleaded guilty to federal charges related to money laundering and regulatory violations, according to CNBC reporting . The three executives were convicted for failing to implement anti-money laundering measures at BitMEX, which prosecutors labeled a “money laundering platform.” Reed admitted to violating the Bank Secrecy Act in 2022 and agreed to pay a $10 million fine. Despite BitMEX’s claims of withdrawing from the U.S. market, authorities alleged that the move was a “sham.” In January, BitMEX was ordered to pay a $100 million penalty for violating U.S. banking laws. A federal judge ordered HDR Global Trading Limited, BitMEX’s parent company, to pay the penalty along with a two-year unsupervised probation sentence. BitMEX sought a buyer earlier this year and enlisted Broadhaven Capital Partners for the sale. Reports indicated the investment bank was appointed in late 2024 to facilitate the deal. The move followed increasing mergers and acquisitions in the crypto derivatives sector. Trump issued the pardons on Thursday, according to CNBC, the same day Trevor Milton, the former CEO of Nikola, announced that he had received clemency for his securities fraud conviction. Milton had been sentenced to four years in prison but remained free on appeal.

The U.S. Securities and Exchange Commission (SEC) has dismissed enforcement actions against crypto firms Kraken, ConsenSys, and Cumberland DRW LLC. These cases were dropped via joint stipulations filed “with prejudice,” meaning the agency cannot refile the same claims later. Notably, the SEC also recently closed its investigation into trading platform Crypto.com without pursuing any enforcement action. These moves appear part of a broader regulatory shift observed under the Donald Trump administration, which previously saw dropped cases involving Coinbase, Robinhood, Uniswap Labs, and OpenSea. However, one prominent name was absent from this latest list of dismissals: Ripple. Despite Ripple achieving its own recent positive legal developments, the fintech firm’s long-standing SEC battle remains formally unresolved, unlike these others. Related: XRP’s Next Chapter? Analysts See “Price Discovery” Mode After SEC Settlement Ripple’s legal conflict with the SEC dates back to 2020 . At that time, the agency accused the company of raising $1.3 billion through unregistered securities offerings by selling its XRP token. Following lengthy court proceedings, a key ruling came in 2023 from a U.S. District Judge. She found that Ripple’s XRP sales to retail investors on public exchanges did not violate securities laws, but determined that $728 million worth of direct XRP sales to institutional investors did constitute unregistered offerings, initially leading to a significant penalty phase. Related: SEC Lets Another One Go: Crypto.com Investigation Closed Without Action More recently, further progress occurred on March 19, 2025, when the SEC dropped its planned appeal against parts of that 2023 ruling. As part of a final settlement related to the institutional sales finding, Ripple also successfully recovered $75 million of the initially proposed fine amount, reducing its final payment obligation to $50 million. Ripple’s chief legal officer, Stuart Alderoty, characterized this outcome as a significant win for the company. Despite this settlement and the SEC dropping its appeal, the agency has not formally withdrawn its entire case against Ripple in the same “with prejudice” manner it employed for Kraken and the others. FOX Business journalist Eleanor Terrett highlighted a key procedural difference explaining this situation. Before the SEC can fully and formally withdraw its original claims against Ripple, the agency must first navigate specific steps within the Southern District of New York (SDNY) . Specifically, the SEC needs to request that Judge Analisa Torres lift the standard injunction previously placed against Ripple related to those institutional sales. Only after that injunction is potentially lifted by the court can the SEC commissioners formally vote to end the case entirely. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Solana-based memecoin BONK has acquired Exchange Art, a digital marketplace for fine-art NFTs. The move brings new leadership to the platform, with artist J.T. Liss stepping in to guide the marketplace’s next phase. BONK ( BONK ) is a cryptocurrency built on Solana ( SOL ), a blockchain designed for fast and low-cost transactions. Memecoins, like BONK, are cryptocurrencies inspired by internet culture . While some are created as jokes, others, including BONK, have grown into active ecosystems. Exchange Art has officially been acquired by @bonk_inu to ensure the perseverance, longevity, and advancement of art on Solana. As long time supporters of the arts, BONK plans to not only steward the platform but bring it into a new era. The transition begins, NOW! Read on ⬇️ pic.twitter.com/pcAhlaP5q2 Exchange Art is an NFT marketplace focused on fine art. NFTs, or non-fungible tokens, are digital assets that verify ownership of unique items, such as artwork, music, and videos, using blockchain technology. Unlike cryptocurrencies, which are interchangeable, NFTs represent one-of-a-kind pieces. BONK’s acquisition of Exchange Art signals a deeper connection between cryptocurrency and digital art. The goal is to improve the marketplace’s functionality and provide more opportunities for artists and collectors. The new team, led by Liss, plans to introduce features that support artists while keeping the marketplace accessible. By integrating BONK into Exchange Art, the platform could create new ways for artists to engage with crypto users.

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Sometimes it seems to me that this will not go away, it is at such moments that I know that everything will be fine. #Polkadot #crypto