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U.S. President Donald Trump has granted pardons to three co-founders and executives of the cryptocurrency exchange BitMEX. This groundbreaking development comes years after the trio pleaded guilty to financial crimes related to the Bank Secrecy Act (BSA). According to a CNBC report , Arthur Hayes, Benjamin Delo, and Samuel Reed, who co-founded digital asset firm BitMEX, were granted a presidential pardon on Friday, March 28th, 2025 As noted in our previous post, Arthur Hayes and Ben Delo pleaded guilty to violating the Bank Secrecy Act while at BitMEX’s helm. Each agreed to pay $10 million in penalties. Similarly, BitMEX was found guilty of operating without the necessary compliance measures with the right authorities. The trading firm was charged for illegal financial transactions on its platform. In addition, federal prosecutors stated that despite publicly claiming to restrict U.S. users, the exchange continued to serve them during the period it was charged for. A US District Judge pronounced a $100 million fine on the company earlier this year, concluding the case. Likewise, the founders and executives received different sentences, including probation alongside financial penalties. As we covered in our latest report, BitMEX co-founder Arthur Hayes was sentenced to six months of home confinement in May 2022, along with a two-year probation. Delo and Reed also received probation as part of their penance. With President Trump’s pardon, these BitMEX founders are now free from any legal consequences tied to their convictions. Following the presidential pardons, reactions in the digital asset community remain contentious. For example, supporters of the BitMEX executives argue that they were unfairly targeted and that enforcing financial regulations in the cryptocurrency industry has been inconsistent. Other community members believe the charges were necessary to uphold legal standards in digital finance. The US Department of Justice (DoJ) had maintained that BitMEX knowingly failed to comply with financial laws. Officials highlighted that the company’s lack of oversight created opportunities for illegal activities, which could have been prevented with proper policies. The case had been closely watched within the cryptocurrency industry, as it set a precedent for how regulators handle compliance failures in digital asset exchanges. In related news, Hawk Tuah girl Hailey Welch, popular for her connection with the controversial $HAWK token, has been cleared of wrongdoing after a lengthy investigation by the United States Securities and Exchange Commission (SEC). Meanwhile, Under President Donald Trump, regulatory trends around crypto have improved. As we mentioned in our previous news brief, the US SEC has dismissed its case with Ripple Labs, with the firm also closing its counter-appeal. Like Ripple, Coinbase, Uniswap, and Robinhood, among other firms, have also seen their respective legal cases closed.

President Donald Trump reportedly branded April 2nd “Liberation Day,” signaling a major shift in American trade policy effective that date. With characteristic rhetoric and a protectionist stance, Trump plans to roll out sweeping new tariffs aimed at countries perceived as having unfair trade advantages over the United States. This move, foreshadowed by earlier announcements and rising global trade tensions, could redefine America’s engagement in global commerce. As April 2 approaches, businesses and foreign governments brace for aggressive trade actions ostensibly designed to revive US domestic industries and curb long-standing trade deficits. On April 2, dubbed “Liberation Day” by the administration, Trump is expected to implement broad-based tariff hikes. These will likely affect goods from a targeted group of countries identified as the “Dirty 15” – nations reportedly assessed as having the largest trade imbalances with the US. Countries like China, Canada, Mexico, and Germany reportedly top this list. The new tariffs could potentially cover a wide range of goods, from electronics to food products. These measures add to already active tariffs on steel, aluminum, and auto imports imposed earlier in March. Related: Trump’s Tariff Gambit: Will “Liberation Day” for US Trigger Gold Surge & Bitcoin Rebound? Besides targeting entire nations, the administration will reportedly also focus on key industrial sectors like pharmaceuticals, semiconductors, and lumber. Trump’s trade office has also proposed steep port entry fees specifically on Chinese-built ships, potentially reaching up to $1.5 million per vessel. This aims to curb China’s maritime industry influence and stimulate US shipbuilding. President Trump has also hinted previously at implementing a universal basic tariff system. Such a system would impose duties on nearly all imported goods, regardless of their origin. If enacted, this would mark a dramatic departure from decades of established US free trade policy. Foreign governments are already preparing to respond. China, for example, has implemented counter-tariffs on some US agricultural products. The European Union is considering its own retaliatory measures, potentially targeting American goods like whiskey and motorcycles. Canada has introduced tariffs on certain US steel and tech products, while Mexico plans a comprehensive response soon. Also, the Trump administration recently launched new trade investigations into industries such as copper and lumber. These could result in further tariffs later this year. Analysts broadly warn that these escalating trade actions, while aimed at boosting domestic production, may instead spark higher inflation and disrupt global supply chains. Despite some expressed opposition from certain business groups and economic advisors, President Trump remains unwavering on this protectionist path. Related: China’s Tariff Retaliation Drags Altcoin Prices Down; ETH Eyes $2.2K–$2.5K For his administration, April 2nd’s “Liberation Day” apparently represents more than just a policy shift – it’s framed internally as a symbolic reclaiming of American industrial strength. 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.

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While most people associate diamonds with luxury, Jack Du Rose saw it as the beginning of a much deeper transformation. He was once known as a designer of intricately detailed luxury jewelry and unique collections—including “Danger,” a series of jewelry inspired by the world’s deadliest animals. But who would have thought that the man who once collaborated with Damien Hirst on a diamond-encrusted skull project would now be a major figure in the global crypto industry. Jack didn’t jump into blockchain because it was a trend. Instead, his move came from his boredom with managing a global supply chain in the jewelry business that he found complicated, inefficient, and overly reliant on old hierarchies. It was at this point that his desire to create a more equitable and open system of collaboration began to grow. Around 2017, Jack began to immerse himself in the world of Ethereum and the concept of DAOs—decentralized autonomous organizations. To the uninitiated, DAOs may sound like a confusing technical term. But for Jack, it was a way out of the rigid organizational structures that had been holding back many potential projects. He then founded Colony, a DAO platform designed to help teams, communities, and even altcoin startups work together without having to abide by traditional management structures. With a contribution-based reputation system, Colony allows people from all over the world to get involved in projects they care about and be rewarded based on real results, not titles or positions. Furthermore, Colony also opens up funding opportunities that were previously difficult for small projects to access. Startups can immediately prove their ideas are viable through community contributions and get funding without having to go through the VC door that is sometimes only open to those who “have connections.” Talking to Jack Du Rose is like a light philosophical discussion about the “future of work.” He believes that hierarchy is not the only way to organize people in large projects. On the other hand, he also doesn’t believe in a completely free system. He believes that the key is in balance—where real contributions are rewarded. In his various writings on the Colony blog and interviews, Jack often discusses how the world of work could change drastically if we stopped thinking vertically. He even mentioned that DAOs , if implemented correctly, could be the “office of the future” that would allow global teams to work without being tied to a traditional location or working hours. Just imagine: you live in New York, join a project that is being worked on by developers in Berlin and designers in Lagos, and everyone gets rewarded for their contributions. That’s the world Jack wants to build with Colony. Although Colony was originally built on Ethereum, Jack and his team didn’t stop there. They saw the problem of transaction fees and began to move to networks like Arbitrum that were cheaper and faster. This move was not just a technical one but also a strategy to get more people on their platform without being hampered by gas fees that are a headache. However, this change was not made in a hurry. Jack maintained Colony’s original values: open collaboration, transparency, and individual empowerment. He believes that in the future, crypto projects will be judged not only by the technology they use but also by how they give everyone the space to contribute. Now, while no longer literally covered in diamonds, Jack seems to have found something far more valuable—the trust and contributions of a global community that chooses to work independently. And if you think about it, isn’t that a lot more glittering than mere jewelry?

Terraform Labs, the company behind the failed TerraUSD (UST) stablecoin and Luna (LUNA) token, has announced the launch of a Crypto Loss Claims Portal to help creditors recover losses from the 2022 Terra ecosystem collapse. The portal, managed by Kroll Restructuring Administration, is set to go live on March 31 and will remain open until April 30, 2025, at 11:59 p.m. Eastern Time. Affected creditors must act within the specified timeframe to ensure their claims are considered in the bankruptcy proceedings. Failure to submit claims before the deadline may result in forfeiture of potential recoveries. To support their claims, applicants must provide proof of their holdings and losses. The verification process includes on-chain verification for assets on supported networks through a free transaction check, while assets on unsupported networks require manual submission of transaction logs, account statements, or a read-only API key. Once a claim is submitted, an initial determination or review notice will be issued within 90 days, and approved creditors will receive pro-rata payouts. However, some assets, such as Luna 2.0 in Terra 2.0 and cryptocurrencies with an on-chain volume under $100, will not be considered eligible. The Terra ecosystem collapsed in May 2022 when UST lost its peg to the US dollar, initially dropping to $0.98 before plummeting further, triggering a $40 billion market wipeout. In an effort to restore stability, Terraform Labs minted large amounts of LUNA, but this failed to stop the downward spiral. Reports later revealed that Terraform Labs and its founder, Do Kwon, secretly coordinated with a third party to purchase large amounts of UST in an attempt to prop up its price. As previously reported by Crypto News Flash , the U.S. Securities and Exchange Commission (SEC) later accused Terraform Labs of misrepresenting UST’s stability in federal court. Additionally, Terraform co-founder Do Kwon was ordered to pay $110 million as part of a settlement agreement, along with an additional $14.3 million in prejudgment interest. By January 2024, Terraform Labs filed for Chapter 11 bankruptcy in the U.S., reporting assets and liabilities between $100 million and $500 million. By September 2024, the company secured court approval to wind down its operations following a $4.47 billion settlement with the SEC. As part of the settlement, the SEC agreed to collect its settlement amount only after Terraform compensates crypto loss claims, ensuring that affected investors receive priority in recovering their funds before regulatory penalties are enforced. At press time, LUNC is trading at $0.00006265, reflecting a 5.77% decline in the last 24 hours but a 2.93% gain over the past week. Additionally, its trading volume has dropped by 25.29%, currently standing at $11.9 million.