Samuel Reed

Reed co-founded the cryptocurrency derivatives exchange BitMEX with Arthur HayesArthur HayesArthur Hayes is a cryptocurrency entrepreneur and investor who co-founded the cryptocurrency derivatives exchange BitMEX in 2014 and served as its longtime CEO; as of October 2026, he is Chief Investment Officer of Maelstrom, his family office. In 2022, he pleaded guilty to one count of violating the U.S. Bank Secrecy Act over BitMEX’s failure to establish an anti-money laundering program and was sentenced to probation; in March 2025, he was pardoned by U.S. President Donald Trump.Open the full entry and Ben Delo. At its launch, Reed introduced his work on the developer API and front end as chief technology officer.⁠[1][2]

BitMEX introduced its bitcoin perpetual swap. A subsequent court consent order described Reed’s CTO responsibilities as developing and overseeing the platform’s website and application programming interface.⁠[3]

Following charges by U.S. authorities, BitMEX announced leadership changes under which Reed ceased serving as CTO, effective immediately. Hayes also left the CEO role.⁠[4]

Reed pleaded guilty to one Bank Secrecy Act count for willfully failing to establish an effective anti-money-laundering program at BitMEX, including customer identification procedures. He agreed to a $10 million criminal fine.⁠[2]

The CFTC announced court orders requiring each of BitMEX’s three co-founders to pay a $10 million civil monetary penalty and enjoining further violations of relevant commodities laws. Reed’s civil penalty was separate from the fine in his criminal case.⁠[5][2]

Reed was sentenced to eighteen months of probation in the criminal case.⁠[6][7]

Reed began attending track days in 2018, ordered a Rush SR in 2021 and raced his first season in 2022. At the end of 2022, he invested in the race-car manufacturer Rush Auto Works.⁠[8]

President Donald Trump granted Reed a full and unconditional pardon for his Bank Secrecy Act criminal case. The pardon addressed that case; it was not a judicial acquittal overturning the historical guilty plea.⁠[9][7]

After Rush Auto Works founder Dave Hosie died in 2025, Reed became its majority owner and president. On May 23, he told the official community that production would continue, with priority on Rush SR orders and parts, and that he would handle business matters previously directed to Hosie.⁠[8][10]

BKX Services and David Namdar filed a civil suit against BitMEX-related parties and founders, naming Reed as a defendant. Bitcoin.com News reported allegations that the platform used internal customer data to trade and trigger liquidations. These were plaintiffs’ allegations; the public procedural order of August 4 did not establish their merits.⁠[11][12]

BitMEX announced that exchange operations had ceased, with trading, deposits and new positions unavailable while withdrawals remained available. Reed had left its CTO position years earlier.⁠[13][4]

Reed graduated in computer science from Washington and Lee University. Using STRML as his public developer identity, he describes interactive web development on his personal website. His GitHub profile highlights open-source projects including React Grid Layout, React Draggable and React Resizable.⁠[14][15][16]

Samuel Reed: Personal website: https://www.strml.net/ (opens in a new window); GitHub: https://github.com/STRML (opens in a new window); X: https://x.com/STRML_ (opens in a new window).⁠[15][16][17]

Rush Auto Works: Official website: https://rushautoworks.com/ (opens in a new window).⁠[14]

BitMEX: Official website: https://www.bitmex.com/ (opens in a new window).⁠[13]