News BitMEX

Bitcoin (BTC) dropped below two psychological price barrier in the last 24 hours to liquidate $66.14 million long positions.

The exchange said it identified an issue and halted all activities except cancel options between 13:58 UTC and 14:18 UTC.

Hayes said 1 NUSD would be created by depositing $1 Bitcoin on a derivative exchange and then shorting the same amount of Bitcoin on an inverse perpetual swap.

The former BitMEX CEO expects a melt up between now and 2026, followed by an economic collapse.

Hayes's GMX holdings equate to over $13 million at the time of writing as his current profit is nears $8 million.

Galaxy Digital plans to cut 20% of its staff, while BitMex is eyeing layoff of around 30%. Meanwhile, DCG laid off 10% of its 100 staff.

BitMEX former executive Gregory Dwyer has pleaded guilty to violating the Bank Secrecy Act.

The prosecutors claim crypto platforms will not achieve compliance if their operators believe there are no meaningful repercussions for violating the law.