BitMEX Hit With 2nd Racketeering And Manipulation Suit

Law360 (November 16, 2020, 6:59 PM EST) -- The founder of a cryptocurrency news aggregator slapped cryptocurrency derivatives exchange platform BitMEX with a lawsuit in California federal court Friday, claiming the company's founders are "notorious fraudsters" running a racketeering enterprise, manipulating the cryptocurrency market and laundering money.

The suit by Păun Gabriel-Razvan, a trader and operator of aggregator 24/7 Crypto News, alleges BitMEX, its parent company HDR Global Trading Limited and other affiliated alleged shell companies — "a maze of corporate entities" and individuals, including founders Arthur Hayes, Ben Delo and Samuel Reed — have been part of a RICO enterprise since at least January 2017, using unlawful trading practices and...

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