Global crypto derivatives exchange BitMEX is expanding its platform beyond just derivatives by finally launching a spot crypto trading platform. BitMEX officially announced on May 17 that its spot crypto exchange, the BitMEX Spot Exchange, is now live, allowing retail and institutional investors to buy, sell and trade cryptocurrencies like Bitcoin (BTC) and Ether (ETH). At launch, the exchange supports seven pairs of cryptocurrencies, including BTC, ETH, Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS) and ApeCoin (APE), all trading against the Tether stablecoin (USDT). The launch of the BitMEX Spot Exchange comes as the company plans to become …

The United States District Court for the Southern District of New York has ordered a total of $30 million civil monetary penalties from the three co-founders of BitMEX crypto derivatives exchange, including former CEO Arthur Hayes. Hayes, Benjamin Delo and Samuel Reed were each fined $10 million in consent payments, according to a statement from the Commodity Futures Trading Commission (CFTC) at the conclusion of a court battle on Thursday in which the CFTC said they violated aspects of the Commodity Exchange Act and CFTC regulations from November 2014 to October 2020. CFTC: Bitmex Co-Founders Ordered to Pay $10 Million …

Italian professional soccer club AC Milan will be releasing its first-ever nonfungible token (NFT) project in collaboration with the BitMEX crypto exchange, with proceeds going to Fondazione Milan, the clubs' charity arm. The limited-edition collection will feature 75,817 NFTs, a number representative of the capacity of the club's home ground San Siro stadium, and will depict a 3D image of a jersey found in South Sudan by Danish war photographer Jan Grarup who was in the country documenting widespread flooding last December. BitMEX partnered with AC Milan to contribute to the project by providing trading discounts and “other benefits” to …

The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ). American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is a Seychelles-based crypto trading platform that offers crypto futures, derivatives, and margin trading up to 100x. The exchange once offered its services without any know-your-customer (KYC) or AML verification procedures to Americans. The DOJ’s Feb. 24 announcement on the case …

We‘ve all heard stories of billion-dollar future contracts liquidations being the cause of 25% intraday price crashes in Bitcoin (BTC) and Ether (ETH) but the truth is, the industry has been plagued by 100x leverage instruments since BitMEX launched its perpetual futures contract in May 2016. The derivatives industry goes far beyond these retail-driven instruments, as institutional clients, mutual funds, market makers and professional traders can benefit from using the instrument‘s hedging capabilities. In April 2020, Renaissance Technologies, a $130 billion hedge fund, received the green light to invest in Bitcoin futures markets using instruments listed at the CME. These …

Crypto.com's native cryptocurrency CRO hit an all-time high of $0.593 on Nov. 18 after the company won the naming rights to Los Angeles's Staples Center. The cryptocurrency trading platform announced Tuesday night that it had paid $700 million to the Anschutz Entertainment Group (AEG) to rename Staples Center to Crypto.com for the next twenty years. In doing so, it gained links with the downtown arena's native sports franchises, including NBA's Los Angeles Lakers, Clippers, and National Hockey League's Kings franchise. The deal should boost Crypto.com's public awareness, and this prompted traders to raise their bids for CRO, an intermediary settlement …

Cryptocurrency exchange BitMEX has become one of the first exchanges in the sector to announce their carbon-neutral status, as well as vowing to offset emissions of all Bitcoin transactions to and from the platform. In a candid statement, the company expressed its intention to go further than merely balancing its emission output, citing a recent purchase of 7,110 tonnes of CO2 credits, approximately valued at $100,000, in partnership with AI carbon data tracking firm Pachama. Carbon credits are certifications of approval granted by official legislative bodies to permit corporations to use one tonne of carbon dioxide in an approach that …

Countries in the developing world will soon follow in the steps of El Salvador and make Bitcoin (BTC) legal tender, BitMEX CEO Alexander Höptner recently predicted. In a Wednesday blog post, Höptner expressed support for El Salvador adopting Bitcoin as legal tender in September, predicting that developing countries will be “leading the way” in Bitcoin adoption: “My prediction is that by the end of next year, we’ll have at least five countries that accept Bitcoin as legal tender. All of them will be developing countries.” Höptner told Cointelegraph that countries like Brazil and the Philippines could be among the following …

A United States District Judge has dismissed amended racketeering allegations brought by traders against the parent company of derivatives exchange BitMEX, HDR Global trading, noting that many of the plaintiff’s accusations had been copied and pasted from a different lawsuit filed against the platform. On Sept. 7, Judge William Orrick dismissed the plaintiff’s claims that BitMEX had engaged in market manipulation, fraudulent inducement, and violated both the Racketeer Influenced and Corrupt Organization Act (RICO) and Commodity Exchange Acts. According to Law360, Judge Orrick concluded the filings were “conclusory” and “prolix” in nature, stating: "The size and prolix nature [...] alone …

Crypto derivatives exchange BitMEX has agreed to pay up to $100 million to resolve a case from the United States Commodity Futures Trading Commission, or CFTC, and the Financial Crimes Enforcement Network, or FinCEN. In a Tuesday announcement, the Commodity Futures Trading Commission said the U.S. District Court for the Southern District of New York had entered a consent order for HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited, Shine Effort Inc Limited and HDR Global Services Limited to be charged with illegally operating the BitMEX platform. As part of the settlement with both the CFTC and …

The California District Judge overseeing a racketeering suit filed against crypto derivatives exchange BitMEX, William H. Orrick, has rebuffed the plaintiffs’ motion offering to provide them with a tutorial on “cryptocurrency basics.” According to a July 13 report from Law360, the judge responded to Bitcoin Manipulation Abatement LLC (BMA)’s proposal with a one-page order on Tuesday, outlining the offer was “not well taken.” “Plaintiffs believe that cryptocurrency tutorial will benefit the court. I think not,” Judge Orrick wrote, adding that the plaintiffs should “focus on the task at hand — convincing me that they have stated a plausible claim.” BMA’s …

A 21st-century space race appears to be brewing between Elon Musk and BitMEX, with both parties pledging to launch their respective crypto of choice to the literal moon first. On Friday, popular crypto derivatives exchange BitMEX announced it would be supporting space robotics firm Astrobotic Technology in the company’s mission to send its first commercial lander to the moon during Q4 2020. Noting that the mission aims to be the first instance in which “a private company leading a coalition of government, academia, industry, and international partners reaches the lunar surface,” BitMEX plans to make the occasion by delivering a …