Arthur Hayes is the chief investment officer and co-founder of Maelstrom, an investment business managed by his family office. He is also CEO of Flop Labs, a role he took in August 2026. He previously co-founded BitMEX with Ben Delo and Samuel Reed and served as its CEO.
Investing and derivatives
At Maelstrom, Hayes sets the firm’s strategic direction. Its investments span venture capital, liquid assets, private equity and public markets, with a focus on crypto infrastructure. Maelstrom also supports Bitcoin development through its grant program.
Hayes co-founded BitMEX in 2014. The exchange helped establish Bitcoin perpetual swaps, derivatives that allow traders to hold positions without a fixed expiry date. He stepped back from executive management in October 2020. He continues to publish essays about monetary policy, liquidity and digital asset markets.
Before BitMEX, Hayes traded equity derivatives at Deutsche Bank and Citigroup. He holds a BS in Economics from the University of Pennsylvania’s Wharton School.
Legal history and pardon
In 2022, Hayes pleaded guilty to violating the Bank Secrecy Act in connection with BitMEX’s failure to maintain an effective anti-money laundering program. The U.S. Department of Justice records a sentence of two years’ probation, including six months of home detention, and an agreement to pay a $10 million fine.
In March 2025, President Donald Trump granted Hayes a full and unconditional pardon for the specified federal offense. The pardon is distinct from the earlier plea and sentence.
