Bitmex CEO goes dark: No sign for two weeks

BitMEX CEO and co-founder Arthur Hayes vanished into thin air from the social networks soon after the Commodities Future Trading Commission (CFTC) set up an inquiry against the company. Arthur Hayes founded Bitmex, a cryptocurrency exchange, and trading company in 2014 along with Ben Delo and Samuel Reed. BitMEX has its headquarters in Seychelles and has offices globally.

Hayes was superiorly active on Twitter till July 11, posting clips and videos of his debate with Nouriel Roubini, an American Economist. The inspection by the U.S. futures selectors is being carried out to find whether or not did BitMEX present its crypto derivative services to the American citizens.

Roubini came out on Hayes, calling him a scammer and an inside trader. He quoted, “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.” Not only Arthur, but the company’s headquarter firm was also never seen active after July 15.

The massive drop in BitMEX’s storage

An increased downfall was seen in BitMEX cold wallet even before the news of CFTC’s investigation came out. Traders had already started to withdraw their cryptocurrencies from the firm. The value dropped to 173,000 BTC on July 26 from 195,000 BTC on July 2013. BitMEX’s bitcoin volume decreased by 42% in a week.

Arthur Hayes seems to hide up strong as no response yielded even after profile-tagging him.

Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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