Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering Rules

Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering RulesBitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement, the crypto derivatives exchange stated that “unverified users will not be able to open new positions” […]

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Bitmex CEO Hayes Steps Down Following U.S. Criminal Charges

Arthur Hayes, chief executive officer of bitcoin derivatives exchange Bitmex, is stepping down from his position a week after U.S. prosecutors filed criminal charges against him. Hayes is leaving together with other top executives who are facing similar charges. The company announced on Thursday that Hayes and chief technical officer Samuel Reed – the latter […]

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Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours

Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 HoursData from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform. According to Arcane Research’s post on Twitter, “the former […]

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Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison

Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison SentencesCryptocurrency derivatives trading platform Bitmex has been charged with illegally operating in the U.S. Concurrently, its executives, including CEO Arthur Hayes, have been charged with violations of the Bank Secrecy Act and are facing prison sentences. One of the Bitmex founders has already been arrested. Bitmex and Owners Charged in US Federal prosecutors and the […]

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Defi Project Yam Finance Sees Over $500M Locked in 24 Hours, Devs Reveal Contract Bug

Defi Project Yam Finance Sees Over $500M Locked in 24 Hours, Devs Reveal Contract BugA new yield farming project is all the rage this week, as the Yam Finance project saw over $460 million dollars locked into the platform in 17 hours on Tuesday. On social media and crypto-focused forums, people have been very skeptical of the Yam Finance project as the code has not been audited. On Wednesday […]

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Sparrow Raises USD 3.5 Mil in Series a Funding

Sparrow Raises USD 3.5 Mil in Series a Funding23 June 2020, Singapore – Sparrow, the leading options trading platform has secured USD 3.5 million in Series A funding to accelerate platform development. The round was led by the HDR Group, owner and operator of BitMEX, and supported by Signum Capital, Du Capital and FinLab EOS VC. Kenneth Yeo, CEO of Sparrow said, “We […]

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Bitcoin’s Flash Rally to $10,400 was “Fake”, Short the Cryptocurrency, Warns Renowned Trader Bollinger

Bitcoin's Flash Rally to $10,400 was "Fake", Short the Cryptocurrency, Warns Renowned Trader BollingerLong 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 […]

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