BitMEX CEO Arthur Hayes, known to be very vocal on social media, has now gone silent after the probe launched by the Commodities Futures Trading Commission against BitMEX. More about it we find out in the latest cryptocurrency news today.
The US futures regulator is trying to find out whether BitMEX offered or not crypto derivatives services to American citizens. As noted previously on July 19, the probe is underway and in the meantime, Hayes is offline since July 11. The last time the Seychelles company was active on Twitter was on July 15th. The mysteries surrounding the BitMEX CEO Arthur Hayes and his exchange has really confused the clients. Long before the Bloomberg reported the story, the traders started to withdraw their cryptocurrencies from the cold wallets of the exchange. BitMEX held about 195,000 BTC in storage and the figure continued to drop to as close as 173,000 on July 26 showing that the exchange processed a huge withdrawal in the said period.
Many users saw these withdrawals as normal saying that Bitmex and other crypto exchanges usually see big money transfers off their platform. The volumes on Coinbase for example dopped by 54 percent on July 24 right after the CFTC announced investigations. The volume on Bitmex dropped by 51 percent in the same time.
This, of course, does not explain why Hayes and BitMEX went silent on Twitter. The CEO was super active before and he published clips and opinions but also full videos of his debate with the economist and professor Nouriel Roubini. Both of them exchange vulgar comments against each other since Roubini even called Hayes a scammer. The professor also noted that BitMEX offered it’s crypto derivative services in the United States as we read in the best cryptocurrency news sites:
“If the price moves even in 0.5%, you are wiped out of your position and guess what? There is a nice tweet called ‘BitMEX Rekt.’ […] Every other second somebody has been liquidated by these guys and thousands of them have gone into financial ruin. Of course, this thing is not regulated anywhere. It is set up in Seychelles.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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