Arthur Hayes Net Worth | Did Bitmex Make Him Rich?
Mike Harry
Feb 2024
6 min
Fact checked
Arthur Hayes is a name that has been making headlines in the world of finance and cryptocurrencies. A former traditional finance professional, Hayes is now known as the past co-founder and CEO of BitMEX, a cryptocurrency exchange for hardcore traders. In this article, we’ll dive into the life and career of Arthur Hayes and explore how he earned his fortune while trying to estimate his net worth!
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Who Is Arthur Hayes?
Arthur Hayes is a well-known entrepreneur in the world of cryptocurrency. He is best known for being the co-founder and former CEO of BitMEX, a cryptocurrency exchange and derivatives trading platform.
Hayes was born in New York and studied economics at the Wharton School of the University of Pennsylvania. After graduating, he began his career in traditional finance where he worked as an equities and derivatives trader for Deutsche Bank and Citigroup in Hong Kong.
Arthur Hayes
In 2013, Hayes started to pivot toward the fast growing field of cryptocurrencies. He was especially drawn to Bitcoin, seeing it as an exciting and disruptive technology with significant potential. He started trading Bitcoin futures on various exchanges, leveraging his background in financial trading.
In 2014, he co-founded BitMEX exchange with Ben Delo and Samuel Reed. BitMEX, short for Bitcoin Mercantile Exchange, is a trading platform that offers leveraged contracts that are bought and sold in Bitcoin.
Bitmex exchange
It quickly became one of the most important derivatives exchanges in the cryptocurrency world while Hayes served as the CEO of BitMEX.
However, Hayes' journey with BitMEX was not without controversy. In October 2020, the U.S. Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) filed charges against Hayes, Delo, Reed, and BitMEX for violating multiple CFTC regulations.
Hayes stepped down as CEO of BitMEX following these charges. In April 2021, he surrendered to U.S. authorities in Hawaii and was released on bail pending future court proceedings.
Despite these challenges, Hayes continues to be an influential figure in the world of cryptocurrency due to his pioneering work with BitMEX. His insights into cryptocurrencies, trading, and regulatory matters are often sought after and his regularly shares his articles on Twitter.
What is Arthur Hayes known for?
Arthur Hayes is a prominent figure in the cryptocurrency industry and is best known for co-founding BitMEX. However, what he is less famous for is his background in traditional finance. Before entering the world of cryptocurrencies, Hayes worked as a derivatives trader at Deutsche Bank and Citibank.
He also held positions at various hedge funds, where he gained expertise in trading equity index futures, interest rate futures, and other financial derivatives.
Haye's experience in traditional finance has been instrumental in shaping BitMEX's trading platform, which is known for its advanced and complex financial instruments.
Arthur Hayes Bitmex
He has also been a vocal advocate for the use of cryptocurrencies in traditional finance, and has spoken about his vision for a more efficient and accessible financial system.
Despite his significant contributions to the cryptocurrency industry, Hayes' background in traditional finance is often overlooked. However, it is this expertise that has enabled him to build a successful and innovative cryptocurrency exchange.
How did Arthur Hayes make his money?
Arthur Hayes is a former investment banker turned cryptocurrency entrepreneur who made his fortune by co-founding BitMEX, one of the world's most infamous destinations for crypto traders.
BitMEX allows users to trade bitcoin and other cryptocurrencies with up to 100 times leverage, making it a popular platform for traders seeking greater returns.
The exchange quickly gained popularity, and by 2018, it was handling more than $1 billion in daily trades. Hayes reportedly earned a personal fortune of over $300 million through his stake in BitMEX. However, in October 2020, Hayes and other top executives were charged with violating U.S. anti-money laundering regulations.
Arthur Hayes House Sentence
The charges were related to allegations that BitMEX had failed to implement appropriate anti-money laundering controls and allowed customers to bypass KYC verification processes.
What is Arthur Hayes net worth?
Arthur Hayes is a former CEO of BitMEX, one of the world's largest cryptocurrency exchanges. According to estimates, his net worth is around $200 to $300 million. Most of his wealth has been accumulated through his involvement in the cryptocurrency industry. He co-founded BitMEX in 2014, which quickly became one of the most popular exchanges for trading Bitcoin and other cryptocurrencies.
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