In March, the third co-founder, Sam Reed, also pled guilty and agreed to pay a $10 million fine. In August, top BitMex employee Gregory Dwyer entered a guilty plea and agreed to pay a $150,000 fine.
BitMEX had attempted to evade sanctions by claiming they didn't serve customers in the United States, though in reality they served thousands of U.S. customers and marketed in the U.S. At one point, when an early investor inquired as to why an investment in the company hadn't triggered a report to regulatory authorities, Delo responded with a meme of a man smiling, superimposed with the text "Incorporated in Seychelles, come at me bro". Hayes and Delo face a maximum sentence of five years in prison as a result of this plea. The exchange had in August paid $100 million to settle a separate lawsuit from the Commodity Futures Trading Commission, in an agreement which had also required them to implement proper blocks to prevent U.S. customers from using the service.