HONG KONG, Oct 8 (Reuters)Top executives at BitMEX, one of the world’s largest cryptocurrency derivatives exchanges, will step back from their roles, the company said on Thursday, a week after U.S. prosecutors filed criminal charges against them.

The company said last week it would “vigorously” fight the allegations after the U.S Department of Justice charged the exchange’s three founders, Arthur Hayes, Samuel Reed and Benjamin Delo with violating the federal Bank Secrecy Act. Gregory Dwyer, its first employee, was also charged.

Prosecutors said BitMEX had made itself a “vehicle” for money laundering and sanctions violations.

BitMEX said Hayes and Reed have “stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect,” adding they and Delo would not hold executive positions and that Dwyer would take a leave of absence from his role as head of business development.

Chief Operating Officer Vivien Khoo, will take over as chief executive. She previously held roles at Goldman Sachs and Hong Kong’s markets watchdog.

The statement said the management changes had been made with the “full approval” of the founders.

“These changes to our executive leadership mean we can focus on our core business of offering superior trading opportunities for all our clients,” David Wong, chairman of 100x Group, BitMEX’s parent, said in the statement.

Hayes and Delo did not immediately respond to requests for comment sent via their social media profiles and Reed could not be reached for comment. Dwyer’s lawyer, Sean Hecker, who earlier said his client would contest the charges, did not immediately respond to an emailed request for comment.

BitMEX is one of the world’s largest bitcoin futures trading platforms, popular for its high liquidity and compliance requirements that are seen as less onerous than those for futures venues regulated in

HAMBURG (Reuters) – Charges to refine copper concentrate (ore) into metal should remain stable in 2021 as the copper industry has come through the coronavirus crisis well, a senior executive at Aurubis, Europe’s largest copper refiner, told Reuters on Wednesday.

    “Mines are working at high capacity and ever more concentrate is coming onto the market,” said Michael Hellemann, Aurubis’ senior vice president, commercial. “I think we are facing comfortable concentrate supplies in 2021.”

    Treatment and refining charges (TC/RCs), the cost of processing ore, are being discussed in the traditional year-end negotiations.

Miners pay TC/RCs to smelters to process their copper concentrate into refined metal and they are a key part of the earnings of smelters like Aurubis. Charges typically go down when concentrate supply is tight and smelters have to accept lower fees to get feedstock.

    “Overall the copper industry has come through the coronavirus crisis without the disruption seen in other sectors and in 2021 I expect abundant concentrate availability,” said Hellemann.

    “But there are a series of scheduled smelter maintenance shutdowns in 2021 which are expected to remove a significant amount of processing capacity from the market so mines will have to offer attractive TC/RCs to gain smelter capacity.”

    TC/RCs in 2020 are $62 per tonne/6.2 cents per pound, with recent forecasts of a fall to $60 a tonne.

But fourth quarter TC/RCs in China firmed.

    Premiums for copper products in 2021 are also set to be announced in coming weeks. In 2020, Aurubis gave a premium of $96 per tonne above London Metal Exchange (LME) prices.

    “Considering the current copper market situation, I am cautiously optimistic we will see little change in premiums in 2021,” Hellemann said. “The copper market is looking positive with the Chinese economy recovering. Aurubis is retaining its forecast for profits in this

Beleaguered Rochester Mayor Lovely Warren — whose administration came under fire for mishandling the case of a Black man who died in police custody — was arraigned Monday afternoon on unrelated campaign finance charges.

Her lawyer, Joseph Damelio, entered a plea of not guilty on her behalf in the Monroe County Hall of Justice to one count each of scheme to defraud and an election-law violation for allegedly evading campaign contribution limits while running for a second term in 2017.

ROCHESTER, NY MAYOR WARREN INDICTED ON CHARGES INCLUDING DEFRAUD IN FIRST DEGREE AND VIOLATION OF ELECTION LAW

Lovely, wearing glasses, a mask and a white coat, sat behind her attorney in the first row of the gallery during the proceeding.

Cayuga County Judge Thomas Leone ordered Warren released on her own recognizance after prosecutors said the crimes for which she’s charged are not eligible for bail.

“Obviously it goes without saying you cannot be getting into any trouble at all along the way,” Leone cautioned the mayor.

CUOMO WARNS NYC RELIGIOUS INSTITUTIONS COULD BE SHUT DOWN FOR CORONAVIRUS VIOLATIONS

The Monroe County District Attorney’s Office unsealed the indictment last week against Warren, a Democrat, and two associates Albert Jones Jr., her campaign treasurer, and Rosiland Brooks Harris, her finance director.

The indictment alleges that Warren and her co-defendants encouraged 28 donors to exceed $8,500 campaign-contribution limits. The donors gave to her campaign account and a separate political action committee — both to aid her re-election.

Rochester Mayor Lovely Warren, left, speaks to the media during a press conference in Rochester, N.Y., Thursday, Sept. 3, 2020, where she announced the suspension of officers involved in the death of Daniel Prude. (AP Photo/Adrian Kraus)

Rochester Mayor Lovely Warren, left, speaks to the media during a press conference in Rochester, N.Y., Thursday, Sept. 3, 2020, where she announced the suspension of officers involved in the death of Daniel Prude. (AP Photo/Adrian Kraus)

Jones and Harris were also arraigned Monday, with their lawyers entering pleas of not-guilty on their behalf. They

ROCHESTER, N.Y. — Rochester Mayor Lovely Warren, a onetime rising star in the Democratic Party who faces corruption charges that could end her career — and land her behind bars — appeared in a Monroe County courtroom Monday to plead not guilty to all charges.

Warren, 43, is accused of bypassing campaign contribution limits when she successfully ran for reelection as mayor in 2017.

Cayuga County Judge Thomas Leone will preside over her case in Monroe County to possibly avoid any judicial ties to the mayor.

“In my 14 years on the bench, I’ve never told my administrative judge ‘no,’ so here I am in Rochester today,” he said.

Appearing via a live stream at Monroe County Supreme Court, Warren sat cross-legged in the courtroom’s first row wearing a lilac face mask and a white coat.

Leone didn’t mince words in releasing the embattled mayor from custody as her court case plays out.

“Ms. Warren, I am going to release you on your own recognizance,” the judge said, further warning her not to get into “any trouble.”

“If you are convicted of the most serious charges here — well, they’re all Class E felonies — I’ll show you absolutely no consideration whatsoever, and I will sentence you to prison, do you understand that?” he added.

“Yes,” Warren solemnly responded.

Warren was indicted on first-degree scheme to defraud and election law violation by a Rochester grand jury on Friday. The charges came after a years-long investigation into her 2017 reelection campaign, prosecutors said.

Warren’s campaign treasurer, Albert Jones Jr., and treasurer Rosalind Brooks-Harris of the political action committee “Warren for a Strong Rochester” also face charges in the case. Brooks-Harris is also Rochester City’s finance director.

The mayor could serve up to four years in prison if convicted; she also faces

ROCHESTER, N.Y. (AP) — Rochester Mayor Lovely Warren is scheduled to be arraigned Monday on campaign finance charges dating to her 2017 reelection campaign.



FILE- In this Sept. 3, 2020 file photo, Rochester, N.Y. Mayor Lovely Warren addresses the media during a news conference in Rochester, N.Y. Warren was indicted Friday, Oct. 2 on charges she broke campaign finance rules and committed fraud during her reelection campaign three years ago. Monroe County District Attorney Sandra Doorley also announced charges against Warren’s campaign treasurer, Albert Jones Jr., and the treasurer of her political action committee, Rosalind Brooks-Harris.  (AP Photo/Adrian Kraus, File)


© Provided by Associated Press
FILE- In this Sept. 3, 2020 file photo, Rochester, N.Y. Mayor Lovely Warren addresses the media during a news conference in Rochester, N.Y. Warren was indicted Friday, Oct. 2 on charges she broke campaign finance rules and committed fraud during her reelection campaign three years ago. Monroe County District Attorney Sandra Doorley also announced charges against Warren’s campaign treasurer, Albert Jones Jr., and the treasurer of her political action committee, Rosalind Brooks-Harris. (AP Photo/Adrian Kraus, File)

The second-term mayor, a Democrat, was indicted by a grand jury on Friday on charges of scheming to defraud and violating election laws. Through her lawyer, Warren said she did not intentionally break any law.

Her campaign treasurer, Albert Jones Jr., and Rosalind Brooks-Harris, the treasurer of a political action committee that backed Warren, also are due in Monroe County Court. All are accused of taking steps to evade contribution limits between Nov. 6, 2013 and Nov. 7, 2017.

The criminal case comes during a tumultuous time for Warren, who has been facing calls to resign over the city’s handling of the death of Daniel Prude. Prude, who was Black, died after police pinned him naked to a street and put a spit hood over his head following his brother’s call for help over Prude’s irrational behavior.

Warren was set to be arraigned in Monroe County Court before a judge from Cayuga County. If convicted, she could be sentenced to up to four years in prison, lose her law license and be removed from office, according to the district attorney, Sandra Doorley.

Doorley said Friday that elections officials began fielding complaints about Warren’s campaign