mido-finance.com

Crypto derivatives platform BitMEX is diclosing its total Bitcoin (BTC) reserve balance. Moreover they are suggesting that other exchanges go public. And also talke about them about their reserves as well. In a new blog post, BitMEX mentioned that it holds 110,090 Bitcoin, worth $5.23 billion at time of this report.

This company also presented tools that anyone can use to verify responsibilities and the company’s reserves in opposition to the blockchain. BitMEX says that it wants other crypto companies and platforms will disclose their Bitcoin holdings as well.

This recent BitMEX’s transparency comes on the heels of its $100-million settlement with the U.S. Financial Crimes Enforcement Network (FinCEN) and the Commodity Futures Trading Commission (CFTC).

BitMEX crypto derivatives agreement

Based on the CFTC, an agreement was reached with five organizations that were charged with operating the BitMEX crypto derivatives platform.

“The order requires the BitMEX entities to pay a $100 million civil monetary penalty. And also it provides that up to $50 million of the penalty may be offset by payments the BitMEX entities make or are credited pursuant to a Consent to Assessment of Civil Monetary Penalty entered by the Financial Crimes Enforcement Network.”

The CFTC accused BitMEX founders Arthur Hayes, Benjamin Delo and Samuel Reed, along with the platform’s other operating entities, of partially operating from the US and serving US customers without proper approval, and that happened in October of 2020.

FinCEN accused BitMEX of operating with inadequate anti-money laundering and customer recognition measures.

$77 million worth of XRP was shifted

The well known Blockchain sleuth on Twitter noted three large transactions. They were having 40 million, 12, million and 9 million XRP.

The biggest batch of crypto was sent among Binance and Huobi. US-based Bittrex moved first 12 million and then 9 million XRP to Upbit. The final tantamount of XRP moved in fiat totals $77,105,418.

Although, the glitch that came into sight at the end of last week remains. In addition, the tweets about these XRP transfers got removed as fast as possible. This removing was by Whale Alert but the links with the details of the transactions are available.