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Blockchain Bites: BitMEX Investigation, Trump’s Diagnosis, Babel’s Leaked Audio

BitMEX is in hot water with the CFTC and DOJ. Thursday, a dual agency operation levied charges against the derivatives exchange and several employees for facilitating unregistered trading and violating the Bank Secrecy Act. 

Elsewhere, another European financial head has intimated the need for a “digital euro,” Atari’s cryptocurrency has a sale date and Venezuela built a national stock exchange on Ethereum. 

Top shelf

BitMEX’s big mess The U.S. Commodity Futures Trading Commission (CFTC) and federal prosecutors are charging crypto trading platform BitMEX with facilitating unregistered trading and other crimes. Further, several executives and employees have been charged with violating the Bank Secrecy Act, with one in custody. BitMEX CEO Arthur Hayes remains at large. It is uncertain how this may affect the crypto industry, though it appears traders took it in stride in intraday trading. More than 32,200 BTC (19% of the exchange’s total funds, worth around $337 million) moved off BitMEX before the exchange’s set withdrawal time at 13:00 UTC, according to data source Glassnode.

Digital euro An executive at the European Central Bank (ECB) has said a future digital euro initiative could save the eurozone from relying on digital currencies issued by foreign entities. In a post on Friday, ECB executive member Fabio Panetta, formerly head of the Italian central bank, said the envisioned aim of a central bank digital currency (CBDC) would be to “preserve the public good that the euro provides to citizens.” The statement comes as the ECB moves to trademark the phrase “digital euro.” Though, officially, it should be said the central bank is only studying the idea, without committing to issuing a CBDC.

Babel’s leverage Leaked recordings of a private conversation suggest crypto lender Babel Finance leveraged some user funds to long bitcoin and faced potential default risks during this year’s Black Thursday market crash in March. Seven ...

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