Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve, also known as The Fed, one of the industry’s biggest firms has said. Fed echoes 2008 crisis moves In a tweet on Sept. 18, Arthur Hayes, CEO of derivatives giant BitMEX, forecast that fresh quantitative easing (QE) would further decrease faith in fiat currency. The comments come a day after the Fed swooped to decrease interest rates on some loans which reached more than 10%, or four times its target. More than $53 billion was pumped into the economy. “QE4eva is …

BitMEX parent firm HDR Global Trading has hired a former executive of French banking group BNP Paribas as the group’s general counsel. 28 years of legal expertise Derek Gobel, who served at BNP Paribas for more than 19 years, will now oversee HDR Global’s legal function and help the company move forward in a constantly evolving regulatory environment, according to a blog post on BitMEX on Sept. 11. A member of the Legal 500’s 2017 GC Powerlist in China and Hong Kong, Derek will bring 28 years of experience working on a multitude of legal issues, including his most recent …

The chief operating officer (COO) at digital currency exchange BitMEX, Angelina Kwan, has reportedly stepped down. A spokesperson familiar with the matter told industry-focused media outlet The Block on Sept. 9: "We can confirm that Angelina Kwan is leaving the company and is on gardening leave now. That’s all we can say on the matter at the moment, but we wish Angelina all the best." A veteran Hong Kong regulator Kwan — who previously covered enforcement and market supervision as part of her role as director of Hong Kong’s Securities and Futures Commission — joined BitMEX last October. She also …

The team at Seychelles-registered crypto exchange BitMEX have accused fellow exchange Binance of plagiarizing BitMEX documents as part of its recent futures testnet launch. On Sept. 4, the platform published a sarcastic tweet, stating: “Congrats on the Testnet Futures launches @binance. Glad to see you enjoyed reading our documentation as much as we enjoyed writing it!” The tweet included screenshots of Binance’s overview of the Auto Deleveraging system for its new futures contracts, in which the text is virtually word-for-word identical to that of BitMEX: Screenshots of Binance’s “Overview of Auto Deleveraging (ADL)” text [left] and that of BitMEX. Source: …

The United Kingdom’s Advertising Standards Authority (ASA) recently resolved a complaint regarding advertising of Bitcoin (BTC) from the BitMEX crypto derivatives exchange. According to the ASA, the website showed Bitcoin graphs with misleading price dynamics since January 2019. The ASA received four complaints, each accusing the platform of being misleading about Bitcoin investment profitability. The court satisfied the complaints. However, this was not the first time that a state took a tough attitude toward advertisement of cryptocurrencies. Here is an overview of how cryptocurrencies are advertised — or not — in the world right now. Ban, no freedom The first …

Major cryptocurrency exchange BitMEX announced that it will restrict access to its platform in Seychelles, Hong Kong and Bermuda. Per an announcement published on Aug. 19, in order to ensure the safety of funds and the stability of the exchange, the firm restricted access from countries in which the offices and workers of its parent company — HDR Global Trading Limited — reside. BitMex also claims that this is a proactive measure and noted, “This change will have no financial impact on the business and will affect very few people.” Part of a broader initiative BitMEX noted that closing trading …

The United Kingdom’s Advertising Standards Authority (ASA) has upheld its complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX. According to an ASA announcement dated Aug. 14, the watchdog has taken issue with the purportedly misleading nature of a graph showing Bitcoin (BTC) price performance in a newspaper ad from January of this year. ASA says it received 4 complaints As the ASA outlines, the ad in question comprised a double spread of a logarithmic graph showing the value of Bitcoin against the U.S. dollar over the past decade. Alongside the graph, BitMEX’s ad included two texts: first, …

On Aug. 7, Binance, the world’s largest cryptocurrency exchange (by daily trade volume), fell victim to a hacking scandal that saw the miscreant allegedly gain possession of a huge chunk of the firm’s Know Your Customer (KYC) data (10,000+ personal photos). The hacker is reportedly demanding a total of 300 Bitcoins (worth around $3.5 million) from the exchange, or else he or she will release all of the data. Also, it bears mentioning that upon commencing his activities, the hacker set up a couple of dedicated Telegram groups (which have since been shut down) that allegedly featured a lot of …

BitMEX, the second-top crypto exchange by reported trading volume to date, experienced record outflows during the month of July. According to the blockchain data provider TokenAnalyst, the total outflow on the exchange amounted to around $530 million. Historic inflows and outflows on BitMEX. Source: TokenAnalyst BitMEX’s monthly outflow never exceeded $100M before Fellow industry analytics firm Ceteris Paribus commented on the news on Aug. 4, noting that BitMEX had never experienced outflow of more than $100 million in a single month. During the whole 2018, the total outflows accounted for $1.3 billion, the firm stated, adding that there was not …

Following a recent hard fork of Bitcoin SV (BSV), the network saw a three-chain split after a massive 210 megabytes (MB) block was mined. As reported by BitMEX Research on Aug. 3, Bitcoin SV nodes divided into three groups on Saturday, making the network to split into three separate chains. According to the report, 65% of nodes were located on the current tip, while 17% were stuck on the 210 MB block and 19% had not even upgraded and were on the old pre-hard fork chain. Bitcoin SV node chart. Source: Twitter According to data from Coin Dance, the 210 …

Bitcoin SV (BSV) successfully increased its block size limit today amid confusion regarding the scheduled fork time. According to a BitMEX Research tweet on July 24, Bitcoin SV was expected to fork at 2 p.m. UTC today, but the website of the BSV-promoting Bitcoin Association claimed that the upgrade was scheduled for 1 p.m. GMT (1 p.m. UTC). The reason why the exchange’s research arm expected the fork to happen on 2 p.m. UTC is that the code of the network upgrade itself defined the fork time to be at that time. Furthermore, BitMEX closely followed the fork implementation and …

Seychelles-based cryptocurrency exchange BitMEX is reportedly in trouble. Soon after Nouriel Roubini, a New York University professor of economics and anti-cryptocurrency pundit, criticized BitMEX of violating regulations, it was reported on July 19 that United States Commodity Futures Trading Commission (CFTC) is opening an investigation into BitMEX on whether it broke the law by allowing U.S. residents to trade on its platform. A day later, an additional finding by London-based blockchain data provider TokenAnalyst revealed that BitMEX has experienced major Bitcoin (BTC) outflows to the tune of $73 million after news of the regulatory investigation surfaced. The Tangle in Taipei …