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BitMEX has long been a polarizing platform within the crypto industry, with it being the trading venue of choice for those utilizing margin, while also contributing to some of the most precarious price movements ever seen by Bitcoin.
Recent news regarding the United States Commodities and Futures Trading Commission’s crusade against the three co-founders of BitMEX has had grave implications for Bitcoin and the crypto market.
Following the CFTC’s charge against BitMEX and its operators, the United States Department of Justice filed their own charges against the exchange’s four founders and executives for violating the Bank Secrecy Act.
On Thursday, the industry was shocked by the news that leading Bitcoin derivatives exchange BitMEX was formally charged by the United States Commodities and Futures Trading Commission (CFTC) over concerns around derivatives and anti-money laundering violations.
Bitcoin’s price has been rocked by news of the Commodities and Futures Trading Commission bringing charges against popular margin trading platform BitMEX.
The United States Commodity Futures Trading Commission (CFTC) has charged the owners of BitMEX with operating an unregistered trading platform and violating multiple CFTC regulations, including failing to meet required AML procedures.
Earlier this year, in March, rumors began to spread online that leading Bitcoin derivatives platform BitMEX was on the verge of implementing Know Your Customer (KYC) procedures.
The Chinese-based Bitcoin mining giant Ebang is the latest crypto company to list on the public markets.
A new report by Bitcoin trading giant BitMEX focussed on the BTC mining industry, exploring if three mining giants could IPO on United States markets and if China’s Bitcoin mining could grow.
After holding under $10,000 for a week, Bitcoin saw an explosive breakout on June 1 that saw the asset reach a local high of $10,450 — the highest price since the February highs.
The crypto market has been subjected to immense volatility throughout 2020, with Bitcoin plummeting to lows of $3,800 in mid-March before incurring an intense rebound that has since led it all the way up to highs of $9,500.
As Bitcoin has effectively doubled since the $3,700 bottom put in on March 12, the so-called “fear of missing out” has started to spread amongst BTC investors as optimists believe the cryptocurrency is poised to burst back into a full-blown bull market.
After rallying from the lower-$6,000 region earlier today, Bitcoin bulls stepped up and propelled the benchmark cryptocurrency up to highs of $7,300 in what ultimately proved to be a fleeting movement.
The amount of Bitcoin held by crypto exchange BitMEX has drastically dropped in the past two weeks after the exchange experienced a massive liquidation spiral on March 13.
Bitcoin’s price action seen throughout the past several days has been rather lackluster, with the benchmark cryptocurrency seeing some choppy trading that has led it to establish a wide range between $5,800 and $6,800.
As CryptoSlate has detailed extensively over the past few weeks, the dynamic of the crypto market has dramatically changed ever since March 12’s Bitcoin flash crash, during which the market capitalization of the space lost almost 50 percent within a 24-hour time span.
On March 12, everything changed for the crypto markets.
Four months after the high-profile acquisition of Indian crypto exchange WazirX by Binance, BitMEX invested in a $3 million funding round for another local cryptocurrency exchange in India called CoinDCX.
The Federal Reserve is taking a stronger approach than it did during the 2008 financial crisis to slow down the downtrend of the United States economy.
BitMEX, the leading Bitcoin and crypto-asset derivatives exchange, has long played a central role in these nascent markets.
Bitcoin’s price struggle was further exacerbated last week when the coin plunged to $3,700 on BitMEX and caused almost $1.2 billion in long contracts to be liquidated on the platform.
BitMEX, one of the largest cryptocurrency futures exchanges in terms of daily volume, has fallen behind OKEx, FTX, Deribit, Huobi, and Bybit in Ethereum open interest after the overnight Bitcoin drop to $3,600 on March 12.
The global markets were subjected to an unparalleled meltdown yesterday that proved to be particularly impactful to the crypto markets, with Bitcoin and many major altcoins posting their largest single-day losses ever.
To prevent future crypto market crashes, the managing partner at Multicoin Capital, Tushar Jain, proposed a bold solution—creating an industry-wide alliance of circuit breakers.
The CEO of Hong Kong-based crypto derivatives exchange FTX has speculated that if BitMEX had not gone offline on account of “hardware issues” Friday morning, the price of Bitcoin could have crashed to zero.
The price of Bitcoin dived $400 below the BTC spot price on BitMEX’s Bitcoin perpetual swap contract as the platform reportedly halted trading on account of “system instability.” Traders widely reported experiencing a system crash on BitMEX between 02:16 and 03:00 UTC Friday morning, as XBTUSD crashed to $3,600, $400 below the Bitcoin spot price.
The Bitcoin price crashed from $7,400 to $5,200 in just one hour, liquidating a staggering $665 million worth of long contracts.
The Bitcoin price declined by seven percent in the last 24 hours, liquidating more than $185 million worth of longs.
The Bitcoin price just dropped by more than four percent within one hour—from $9,224 to $8,851—after 52 hours of ranging with low volatility and volume.
BitMEX is introducing a new perpetual swap contract for XRP.
Bitcoin’s Lightning Network is expanding at an exponential rate despite a number of scalability and security flaws in its protocol.
BitMEX, one of the largest crypto derivatives exchanges in the world, announced that it has added support for Bitcoin Bech32 addresses.
BitMEX and Coin Metrics announced the release of a new technical tool that aims to provide in-depth data about the state of the Bitcoin network.
The number of open BitMEX Bitcoin futures contracts (XBTUSD) tends to peak at around $1 billion, or 100,000 BTC.
Crypto derivatives exchange BitMEX hasn’t seen a major increase in withdrawals following the email leak it experienced last week.
BitMEX, on the largest crypto derivative trading platforms in the world, has leaked the email addresses of thousands of its users.
The Bitcoin price has failed to push above a relatively low resistance level at $8,374, making a bigger pullback into the mid-$7,000 region more likely.
The volume of bitcoin on BitMEX dropped to a seven-month low on October 12 (Saturday), to below $900 million for the first time since March.
Bitcoin has stabilized around the $8,600-mark hours after a ferocious sell-off led on BitMEX saw price decline more than 13 percent, liquidating more than six hundred million long contracts on the Seychelles-based exchange, according to data on Datamish dot com.
Arthur Hayes, the CEO of BitMEX, responded to Changpeng Zhao’s false accusations of a Binance futures market maker attack—satirically.
BitMEX, the largest margin trading platform in the cryptocurrency market, is seeing its chief operating officer depart.
Binance’s newly launched testnet futures platform contained a word-for-word copy of BitMEX’s terms and conditions.
A 4.8 percent impulse in Bitcoin’s price beginning August 25 caused an unusual number of liquidations on BitMEX, wrecking $52 million in BTC short positions.
Net outflows show that more than half a billion dollars worth of Bitcoin left BitMEX in July, making the month the single-biggest for total customer withdrawals on record.
The Commodities and Futures Trading Commission (CFTC) has started an investigation into BitMEX, the largest margin trading platform in the crypto market, according to a Bloomberg report.
Following a heated debate at the Asia Blockchain Summit, Doctor Nouriel Roubini ramped up his campaign against BitMEX and its CEO, Arthur Hayes.
Arthur Hayes, the CEO of BitMEX, believes that Bitcoin is a retail investor led phenomenon that shows no signs of stopping.