The Lowdown (because you need to know):
- Mauricio Beugelmans, the chief legal brainiac at OKX, peaced out after 3 years and 8 months (Aug ’21 – Mar ’25). His Linkedin profile is more up-to-date than mine, btw.
- Last month, OKX got slapped with a >$500 MILLION penalty from the U.S. Department of Justice. Yikes! Apparently, they had a teensy issue with “$5 BILLION in suspicious transactions and criminal proceeds” 🤑
So, Mauricio Beugelmans, the guy who helped shape OKX’s global compliance policy (aka the “don’t get in trouble” department), has abandoned ship… err, exchange.
His Linkedin profile (again, more current than mine) shows his tenure lasted from August 2021 to March 2025. That’s a solid 3 years and 8 months of not getting in trouble… just kidding, they got in HUGE trouble 🤦♂️
Last month’s $500+ million settlement with the DOJ was likely the final nail. I mean, who needs that kind of stress, right? A source (you know, a “source”) confirmed his exit was related to the settlement. No kidding! 🙄
And because things weren’t already great for OKX, their American division, OKcoin, got subpoenaed by the Commodity Futures Trading Commission (CFTC) in Feb ’24 for some alleged “fraud and other unlawful conduct” with digital assets. Just another Tuesday, huh?
As of press time, OKX and Beugelmans were all, “No comment, bye!” 🚫
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2025-03-31 18:24