{"id":25705,"date":"2018-11-12T21:14:59","date_gmt":"2018-11-12T20:14:59","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=25705"},"modified":"2018-11-12T21:14:59","modified_gmt":"2018-11-12T20:14:59","slug":"bitmex-ceo-we-dont-trade-against-our-customers","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/bitmex-ceo-we-dont-trade-against-our-customers\/","title":{"rendered":"BitMEX CEO: “We Don’t Trade Against Our Customers”"},"content":{"rendered":"

BitMEX \u2014 “An Opaque Entity”<\/strong><\/h2>\n

Although BitMEX is one of the crypto market’s most prominent platforms, there is a multitude of industry players that have yet to trust the exchange in full.<\/p>\n

For those who are unaware, the Seychelles-based, Hong Kong<\/a>-headquartered platform has become well-known for its margin trading feature, which utilizes a somewhat complicated sequence of insurance funds, peer-to-peer contracts, and other systems to allow traders to leverage their Bitcoin (BTC) 100x.<\/p>\n

However, over recent months, as the value of crypto assets fell, rumors arose that BitMEX had nefarious intentions. Some conspiracists had connected the dots to claim that the startup, founded in 2014, was willing to undermine its clients to turn a quick buck.<\/p>\n

One such critic\/cynic was Hasu, a pseudonymous self-proclaimed “independent\u00a0cryptocurrency researcher,” who released a jaw-dropping 13 minute-long Medium post<\/a> on BitMEX’s potentially shady dealings in late-October that rattled the crypto community.<\/p>\n

https:\/\/twitter.com\/hasufl\/status\/1054425493066407937<\/p>\n

Hasu first noted that while the company expresses its love for this industry and technology incessantly, this may be nothing more than a guise or facade, subsequently dubbing BitMEX an “opaque entity that wields disproportionate influence in the industry.”<\/p>\n

Bringing credence to his inflammatory words, Hasu embarked on a research journey, finding data, people, and documents that supported his theory that the Seychelles-based startup doesn’t have its users at the top of its priority list.<\/p>\n

Although the article stretched out to over 3,000 words, the following are Hasu’s three primary qualms (which are just speculative guesses) with the platform:<\/p>\n