BitMEX CTO Samuel Reed, who was charged and arrested by the U.S. Department of Justice on October 1, has been released on a $5 million appearance bond. Source: USDOJ Reed, was arrested on charges of violating the Banking Secrecy Act (BSA) and “willfully failing to establish, implement, and maintain an adequate anti-money laundering (‘AML’)” at...Read More
A few days after being charged and arrested by the US Department of Justice, BitMEX CTO Samuel Reed has been released on a $5 million appearance bond. His release came with two conditions. Those are: Reed has to appear for court proceedings, and if convicted, to “surrender to serve a sentence that the court may...Read More
Following the fiasco between the United States Commodity and Futures Trading Commission and BitMEX – one of the world’s largest crypto derivatives platform, there will be major shifts in the executive management of the latter. As per an official announcement published today, October 8th, Arthur Hayes, the well-known CEO of the company operating BitMEX, will...Read More
BitMEX, the largest cryptocurrency derivatives exchange in the world landed in a heap of trouble with US law enforcement. One of the exchange’s co-founders and CTO, Samuel Reed was arrested, while charges of money laundering and other illegal transactions were issued against the other co-founders. The entire market’s dependence on BitMEX cannot be understated. Back...Read More
Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance. CFTC Charges Against BitMEX Owners As CryptoPotato reported last week, the US Commodities and Futures Trading...Read More
BitMEX was in the eye of the storm this past week after U.S regulators took its case. The charges brought by the CFTC against BitMEX argue that the exchange facilitated cryptocurrency derivatives transactions with an aggregate notional value of trillions of dollars and failed to implement the most basic of compliance procedures required of financial...Read More
To say that a lot has happened over the past seven days would be an understatement. Starting off with Bitcoin’s price, it’s currently trading at around $10,500, down $150 over the week. Everything was going relatively well for BTC. It peaked above $10,900, giving many people hopes that we will finally see a breach above...Read More
Recent data revealed that cryptocurrency traders had withdrawn the first batch of 23,200 BTC (worth over $240 million) from BitMEX in the initial hours following yesterday’s developments. This substantial amount represented about 13% of all bitcoins held on the popular Bitcoin derivatives exchange. The Glassnode data indicated that this is the “largest hourly BTC outflow...Read More
Yesterday, the United States Commodity Futures Trading Commissions (CFTC) filed charges against BitMEX and its executive team, pressing both criminal and civil allegations. Its CTO, Samuel Reed, was arrested. The platform’s CEO, Arthur Hayes, and its cofounder Ben Melo are still under the radar. The news spread quickly throughout Crypto Twitter, and of course, the...Read More
Bitcoin was riding high around $10,900 before dumping below $10,500 following the controversial BitMEX news from yesterday. Most alts have copied the move downwards, resulting in a $15 billion loss for the market cap. Bitcoin Tumbles On BitMEX News As CryptoPotato reported yesterday, the US Commodity and Futures Trading Commission charged the owners of one...Read More
In a somewhat unexpected turn of events, the United States Commodities and Futures Trading Commission has pressed charges against the owner-operators of BitMEX for illegally running a cryptocurrency exchange and failing to comply with anti-money laundering regulations. As CryptoPotato reported earlier today, this had an immediate impact on Bitcoin’s price, which dropped by as much...Read More
The premier cryptocurrency was trading near $10,612 at the time of writing and is also representing a roughly 4% decline over the past 24 hours, according to data from trading view. Prices dropped by nearly $300 in just minutes, but have bounced slightly at the time of writing; but BTC price fell roughly by $500...Read More
Bitcoin’s price was advancing relatively well over the last couple of days but now things took a turn for the worst. The cryptocurrency went on to lose more than $400 of its value, at the time of this writing, in less than an hour. It was trading at almost $10,900 before plunging down to where...Read More
One of the world’s leading and popular Bitcoin derivatives exchanges, BitMEX, has installed Blockstream’s Bitcoin satellite system. It’s a way to download and to verify Bitcoin’s blockchain through a satellite without having to be connected to the Internet. Apart from the fact that one of the leading exchanges is showing open support for Bitcoin, this...Read More
The popular Bitcoin and cryptocurrency derivatives exchange BitMEX announced the launch of ‘quanto futures’ for four crypto coins – EOS (EOS), Chainlink (LINK), Tezos (XTZ), and Cardano (ADA). This comes after BitMEX’s recent move that requires users to sign up for a mandatory ID verification procedure’. BitMEX To Launch Quanto Futures Trading For LINK, XTZ,...Read More
Bitcoin may be the dominant cryptocurrency in terms of its market cap, but altcoins have gained a lot of attention this year. Chainlink [LINK] has been one such altcoin, that grew exponentially over the past few months, providing investors massive gains. There have been several products introduced by exchanges to invite more user interest on...Read More
The Bitcoin (BTC) price dip seen on Thursday has triggered a cascade of forced liquidation on derivatives exchanges like BitMEX and Bitfninex. U.S. stocks have also taken a beating, with the markets experiencing its worst performance since June. Bitcoin Long Bloodbath as BTC Price Falls to $10,700 According to data from the crypto derivatives analytics...Read More
BitMEX the old? Once the OG and pioneer, BitMEX seems to be getting old, or at least the contracts listed on the exchange are. There are contracts for 8 coins – BTC, ADA, BCH, EOS, ETH, LTC, TRX, and XRP. Most of these coins were popular in 2017 but few seem to have survived and...Read More
Bitcoin derivatives exchange surprised its users today by asking them to comply with a mandatory ID verification procedure. The 6-month long process will continue until February 12th, 2021. BitMEX will start this ‘User Verification Programme’ on August 28 at 00:00 UTC. BitMEX Asks Users To ‘KYC’ In a blog post published today, the prominent bitcoin...Read More
Bitcoin’s price took a turn for the best over the past couple of days as it breached the coveted $10,000 mark in today’s early hours. Naturally, this brought a lot of excitement in the cryptocurrency community, and a definitive testament of this is the reaction of Arthur Hayes – the CEO of one of the...Read More
Open interest for Bitcoin Futures on major derivatives crypto exchange BitMEX reached an all-time-high (ATH) as it crossed the $1 billion milestone. The record high happened for the first time since the crypto market crashed back in March 2020. Bitcoin Futures Open Interest on BitMEX at 4-Month High According to data from crypto derivatives market...Read More
BitMEX’s parent company, HDR Global Trading Limited, has established a new holding company structure – 100x. As BitMEX will fall under the new structure, the organization noted that it would enable the platform more freedom to develop new features and opportunities for clients. A New Structure Above BitMEX HDR Global Trading Limited is the company...Read More
HDR Global Trading Limited (HDR), the operator of the cryptocurrency derivatives trading platform BitMEX, announced today that financial expert Dr. David Wong has joined the company as a non-executive chairman. Joining HDR will see Dr. Wong working alongside three other board members, including co-founder and CEO Arthur Hayes, co-founder Ben Delo, and co-founder and CTO...Read More
The popular Bitcoin margin trading exchange BitMEX is launching a new program tailored towards its corporate customers. Called BitMEX Corporate, it will provide them with enhanced legal, auditory, and client relationship benefits. BitMEX Flatters Its Corporate Customers In the announcement from earlier today, BitMEX describes the corporate accounts on its platform as “the part of...Read More
The number of so-called whales with 1,000 bitcoin or more in their wallets has climbed to 1,882 from around 1,650 in January. It is the highest the numbers have reached in nearly three years. Whales may be defined as the Bitcoin ( BTC) community’s own version of the ‘deep state’, with the ability to swing...Read More
Arthur Hayes, the CEO of one of the leading Bitcoin derivative exchanges, BitMEX, has once again slammed a cryptocurrency for being a “shitcoin.” This time it was Bitcoin Cash (BCH) that’s under his radar. BitMEX Listing BCH/USD Perpetual Contract In an announcement from June 01st, 2020, BitMEX revealed that it’s going to launch a BCH/USD...Read More
Data from the crypto analytical firm Skew.com shows that bitcoin options are maturing much faster than the futures markets launched in December 2017. Skew’s data shows that the open interest in bitcoin options has risen significantly in the last few months. Bitcoin options “are starting to play catch up with the more mature futures market,”...Read More
Cryptocurrency derivatives trading volume reached a new monthly all-time high in May 2020, surpassing the previous record recorded in March, recent research indicates. Volumes on regulated exchanges such as CME soared as well for both futures and options trading. Crypto Derivatives Monthly Volume ATH According to the report by CryptoCompare, the monthly trading volume of...Read More
Long time trader John Bollinger has warned that bitcoin’s flash rally to over $10,400 on Monday was fake, adding that losses might be on the way. “This is a Head Fake at the upper Bollinger Band for $btcusd,” tweeted Bollinger, inventor of the Bollinger Bands indicator. A ‘head-fake’ trade happens when an asset price makes...Read More
The celebration of Bitcoin bulls for bringing the price above $10,000 was nothing but shortlived as the leading cryptocurrency collapsed to $8,500 in less than five minutes. Bitcoin Nosedives to $8,600 on BitMEX Those who have been involved in the cryptocurrency field long enough probably know that there’s rarely a dull day with Bitcoin. In...Read More
