BitMEX Bitcoin futures have “completely unwound” as platform exodus continuesBTC $10,743 (+0.7%) • ETH $352 (+0.6%) • XRP $0.25 (+6.1%)
Recent news regarding the U.S. Commodities and Futures Trading Commission’s crusade against the three co-founders of BitMEX has had grave implications for Bitcoin and the crypto market. Many investors now fear that this marks the start of a fresh round of regulatory scrutiny on the crypto industry from U.S. regulators, which could have far-reaching implications for the market. Although the tangible impacts that this has had so far on Bitcoin’s trading dynamic have been somewhat limited, with its price only sliding a few percent on the news – it has struck a potentially lethal blow to BitMEX. In addition to seeing plunging open interest, Bitcoin futures on the platform have been almost entirely unwound, signaling that traders are fearful that funds on the trading venue may not be safe if regulators move to seize the domain or arrest the other co-founders – who are each multi-sig key holders for all withdraws. 📈 Trending … DeFi Tokens • Oracle Tokens • Biggest Gainers • Stablecoins More news ⏬Yearn.finance faces capitulatory decline as investors remove the “Cronje premium”The price of Yearn.finance’s governance token – YFI – has been plummeting as of late, with the sell-side pressure overwhelming the cryptocurrency’s bulls as it shatters multiple key support levels that were previously boosting its outlook. U.K. politician doubles down on Bitcoin despite anti-crypto stance of BOE governorDespite Bitcoin trading far below its previous all-time high of $20,000, there are more prominent investors, celebrities, and politicians adopting the cryptocurrency than ever before. The return of Ethereum food coins? Multiple DeFi tokens surge hundreds of percentEarly in September, every Ethereum developer was launching tokens branded with a type of food. Crypto infrastructure “far from” scale needed to support $1t Bitcoin or EthereumBitcoin, Ethereum, and altcoins have seen rapid growth this year. An Ethereum scaling solution is near—a DeFi founder thinks it will “melt faces”While Ethereum has become much less congested than it was just weeks ago, transaction fees are still far from cheap. The aftermath of CFTC’s charge against BitMEX: massive withdrawals, fake quotes, more legal actionFollowing 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. This data metric suggests the crypto market could soon see another “altseason”The crypto market has taken a beating throughout the past few days and weeks, with sellers taking full control over altcoins as Bitcoin oscillates within a relatively wide trading range between $10,200 and $11,200. Lawyers, execs explain how BitMEX news could help Bitcoin ETF chancesOn 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. Data shows most Bitcoin exchanges require negligible KYCA new report by on-chain analytics firm CipherTrace found out that most Bitcoin and crypto Know Your Customer (KYC) processes can be exploited by money launderers, criminals, and extremists. Featured event
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BitMEX Bitcoin futures have “completely unwound” as platform exodus continues