TL;DR Breakdown
- The BitMEX lawsuit by BMA has been going on since May 2020.
- The BitMEX lawsuit plaintiffs offered to guide the judge on crypto.
- Reed, Hayes, and Delo will next face the court in March 2022.
The BitMEX lawsuit plaintiffs seemed to have gone out of their way when they offered the presiding judge a guide on cryptocurrencies’ fundamentals and functioning. Judge William H. Orrick falsified this motion of the plaintiffs.
Law360 released a report on the response of the presiding judge to the plaintiffs. The suggestion provided by the BMA to the judge wasn’t “well taken” as the judge reverted with an order stating that lasted an entire page long.
BitMEX lawsuit plaintiffs suggest that such a guide will “benefit the court”
BitMEX lawsuit plaintiffs were ordered not to go out of their way and rather focus on what is necessary. Along with that, Judge Orrick also wrote that it was the job of the plaintiffs to provide explanations as to why their claims are plausible.
The judge cleared the air saying that there is no need for any tutorials and that the offer of the BitMEX lawsuit plaintiffs was not needed. The plaintiffs claimed that HDR Global Trading Limited, BitMEX’s former parent organization, was involved in various scams and illicit activities.
Trial on March 2022
BMA had also accused Arthur Hayes, Samuel Reed, and Ben Delo, the executives at the organizations, in May 2020 when the case was filed. Although until now, the accusations of frauds have been strictly denied by the officials at BitMEX.
Reed was put in jail while the other two surrendered, awaiting trial in March 2022.
