Tag Archives: CFTC

Christopher Giancarlo, the former CFTC Chairman, also known as “crypto dad,” and the billionaire hedge fund manager Marc Lasry have reportedly invested an undisclosed amount in the cryptocurrency and blockchain investment company BlockTower Capital.Crypto Dad and Hedge Fund Manager Invest in Crypto FirmFounded in 2017, BlockTower is an investment firm focusing on allocating funds in various cryptocurrency and blockchain projects. The company has recently received backing and investment from...

The restructuring within the BTC derivatives exchange BitMEX continues with the addition of Wai Kin Chim as an Independent Non-Executive Board Director of 100x Group. Additionally, the former Chief Credit Officer (CCO) at the Bank of China and the company’s recently appointed CEO will join the board of directors as of February 1st.Former Bank of China Exec Heads Over BitMEXAccording to a recent BitMEX statement, the appointment of Chim aims to enhance the company’s initiatives on...

The Coinbase Chief Legal Officer Paul Grewal published a post earlier informing customers that the popular exchange will seize offering margin trading.Clients will not be able to place margin trading orders starting from 2 p.m. PT on November 25th, 2020. At the same time, the platform will cancel all open limit orders.The San Francisco-based exchange will disable the margin trading feature fully at the end of November, “once all existing margin positions have expired.”According to the...

The popular Bitcoin derivatives exchange BitMEX has taken a step towards improving its trade surveillance and AML efficiency endeavors by collaborating with Eventus Systems. Founded in 2013, Eventus is a global provider of multi-asset trade surveillance and market risk solutions.  BitMEX will integrate the cloud-based version of the Eventus Validus platform with its already existing processes in the upcoming weeks. As a result, the exchange will “be able to more efficiently...

100x Group, the organization that owns and operates the popular Bitcoin derivatives platform BitMEX, has appointed a new Chief Compliance Officer – Malcolm Wright.According to the official announcement, Wright will lead the company’s compliance efforts globally. He will assist with BitMEX’s goal to complete its User Verification Programme and to “further enhance our compliance function.”Wright has a 30-year experience in compliance and anti-money laundering (AML) and currently sits on...

A few days after being charged and arrested by the US Department of Justice, BitMEX CTO Samuel Reed has been released on a $5 million appearance bond.His release came with two conditions. Those are: Reed has to appear for court proceedings, and if convicted, to “surrender to serve a sentence that the court may impose.”The statement also informed that the $5 million bond is secured by $500,000 in cash. As reported by CryptoPotato last week, BitMEX owners and executives came unto scrutiny from...

Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance.CFTC Charges Against BitMEX OwnersAs CryptoPotato reported last week, the US Commodities and Futures Trading Commission pressed charges against the owners of the popular derivatives exchange BitMEX. The CFTC charged Arthur Hayes, Ben Delo,...

Recent data revealed that cryptocurrency traders had withdrawn the first batch of 23,200 BTC (worth over $240 million) from BitMEX in the initial hours following yesterday’s developments.This substantial amount represented about 13% of all bitcoins held on the popular Bitcoin derivatives exchange.The Glassnode data indicated that this is the “largest hourly BTC outflow from BitMEX” since the company keeps track. Bitcoin Withdrawals on BitMEX. Source: GlassnodeThe withdrawals accelerated in...

The Commodity Futures Trading Commission (CFTC) has filed charges against four individuals – three in Texas and one in Florida. All four of the figures have been accused of defrauding investors through a bitcoin scam that has resulted in more than $1 million in lost funds.The CFTC Isn’t Playing AroundThe CFTC has named the bad actors as Joel Castaneda Garcia, Mayco Alexis Maldonado Garcia, Cesar Castaneda and Rodrigo Jose Castro Molina. The four represented a company known as Global Trading...

For some time now, people within the crypto space have been stating that institutional investors are rushing into the crypto arena and looking to trade digital assets. Following news that Grayscale had traded more than $1 billion in bitcoin during its second quarter, it seems like many other institutional firms have been looking to get a piece of the crypto action.Institutional Investors Keep Heading for the BTC HillsIn other words, it does look like institutional investors are rushing to get...