The US Government is pushing for a Court order directing HDR Global Trading Limited, a/k/a “BitMEX” to pay a $417 million fine.
This is apparent from a sentencing submission dated December 10, 2024.
The Government says that BitMEX earned at least $155 million in revenue attributable to U.S. sources during the relevant period of September 1, 2015, through September 30, 2020 (the “Relevant Period”).
Using this U.S. revenue as the Company’s gain from the offense, and in light of the remaining Guidelines calculations and Section 3553(a) factors, the Government posits that a total fine of $417 million is warranted in this case. This fine is at the middle of the Government’s calculation of the Guidelines range of $293 to $541 million (the “Guidelines Range”).
Notably,…
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