BitMEX is reportedly looking for a buyer
This move comes as mergers and acquisitions (M&A) heat up in the crypto derivatives market. Major players like Kraken and Coinbase are both rumored to be eyeing Deribit, the leading crypto options exchange. Additionally, FalconX recently acquired Arbelos Markets to strengthen its derivatives business. Let’s discover more about BitMEX
At its peak, the exchange dominated the derivatives market, offering up to 100x leverage on Bitcoin trades. However, its reputation took a major hit in 2020 when the U.S. government accused BitMEX of failing to implement proper anti-money laundering (AML) procedures.
Hayes and his co-founders later pled guilty to the charges, leading to their departure from the company. While BitMEX has since attempted to clean up its act, the exchange has struggled to regain its former glory. The crypto derivatives market is now more competitive than ever, with other platforms capitalizing on regulatory compliance and institutional demand.
While the details of potential buyers remain unclear, BitMEX’s sale could shake up the derivatives landscape. If a major exchange like Kraken or Coinbase swoops in, it could consolidate the industry further. On the other hand, an institutional buyer could transform BitMEX into a more regulatory-friendly platform.
Now, Coinbase’s Derivatives Exchange operates regular market hours for both crypto and energy products from Sunday through Friday, 6:00 PM ET to 5:00 PM ET, with pre-open quoting starting at 5:50 PM ET.
Their crypto futures offerings include Bitcoin (BTI), nano Bitcoin (BIT), Ether (ETI), nano Ether (ET), Solana (SLC), nano Solana (SOL), Avalanche (AVAX), Bitcoin Cash (BCH), Chainlink (LNK), Dogecoin (DOG), Hedera (HED), Litecoin (LC), Polkadot (DOT), Shiba Inu (SHB), and Stellar (XLM). The exchange provides a structured trading schedule, ensuring liquidity and price discovery for various crypto assets.
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According to sources, cryptocurrency exchange BitMEX is seeking a buyer and has enlisted investment bank Broadhaven Capital Partners to assist with the sale. Co-founded in 2014 by Arthur Hayes and others, BitMEX was later charged for failing to implement effective anti-money Show more
