Crypto Liquidations Top $2.4 Billion in 24 Hours
Martin Young, 17 May 2021
According to data from ByBit, there has been $2.38 billion in total liquidations over the past 24 hours. Over half of that total, or $1.26 billion, has been from bitcoin positions as the asset has continued its free fall.
The largest day for Bitcoin long position liquidations was on April 17, 2021, a few days after its all-time high when over $9 billion disappeared. April 22 and May 12 also saw large Bitcoin liquidation figures according to derivatives exchanges.
Datamish has revealed that $34 million in longs have been liquidated on BitMEX over the past 24 hours and 417 BTC was liquidated on Bitfinex. Continue reading “Article: Crypto Liquidations Top $2.4 Billion in 24 Hours”
BitMEX Free of Crypto Market Manipulation Claims in California
Maeve Allsup, 16 March 2021
Cryptocurrency trading platform BitMEX and its founders won dismissal of claims that they illegally manipulated the cryptocurrency market, causing losses for platform users, when a federal judge in California rejected traders’ “kitchen sink” approach.
The complaint, filed in the U.S. District Court for the Northern District of California, alleged 17 causes of action, including violations of the Commodity Exchange Act, the Racketeer Influenced and Corrupt Organizations Act, and state law. Continue reading “Article: BitMEX Free of Crypto Market Manipulation Claims in California”
Traders’ BitMEX Racketeering Suit Dismissed With A Warning
Elise Hansen, 12 March 2021
A California federal judge on Friday nixed traders’ lawsuit accusing cryptocurrency exchange BitMEX of racketeering and “myriad” illegal activities, and warned the traders “to allege only relevant facts” if they bring their claims again.
U.S. District Judge William H. Orrick said four individual traders and BMA LLC, an entity co-owned by several traders, did not adequately show how they had been harmed by the alleged wrongdoing. While the traders may try again with their claims, Judge Orrick cautioned against the lengthy style of their original complaint. Continue reading “Article: Traders’ BitMEX Racketeering Suit Dismissed With A Warning”
Researchers say market manipulation is destroying traditional safe havens
Valentina Ruiz Leotaud
Mining.com, 17 May 2020
The University of Sussex Business School released an analysis stating that widespread market turmoil caused by the covid-19 pandemic means regulators have so much on their plates right now that large-scale manipulation of the markets remains below their radar.
In the view of the researchers behind the study, this is the reason why prices of safe-haven assets such as gold and bitcoin are not surging.
Read full article.