BitMEX Exchange Sees 3 Days Positive Cash Inflows: Signs Of Relief Following CFTC Investigation?

According to popular data resource, the Bitcoin margin trading exchange BitMEX has seen positive financial inflows over the past three days. This could spell relief for the exchange which is currently under investigation by the US Commodities and Futures Trading Commission for allowing US-based traders to operate on its platform.

Good News For BitMEX

It’s safe to say that BitMEX has seen a tumultuous month in July, following the CFTC investigation launched against it. After quite a few days during which the exchange saw a lot more cash pulled out of it than funneled in, BitMEX now marks three consecutive days of positive cash inflows. 

According to the popular data resource TokenAnalyst, the Bitcoin margin trading exchange received roughly around $35 million more than it saw getting out during the past three days. 

However, looking at the bigger picture over the past 20 days reveals that BitMEX lost quite a bit of money following the beginning of the investigation. 

BitMEX BTC Inflows. Source: TokenAnalyst

As seen on the image, the blue candles which represent the outflows are substantially more than the ones representing the inflows. The largest discrepancy happened on July 19th when the exchange lost upwards of $66 million. The date coincides with the beginning of the investigation. 

However, the fact that the exchange has seen three consecutive days of positive inflows could be considered as a good sign and that BitMEX finally gets some sort of a relief. 

BitMEX’s CFTC Saga

The popular Bitcoin margin trading exchange BitMEX has had rough times recently, as the US Commodities and Futures Trading Commission (CFTC) launched an investigation against it. The authority alleged that the exchange allowed US-based traders to operate on its platforms against regulations and against its own Terms of Services. 

Curiously enough, the investigation came shortly after BitMEX’s CEO, Arthur Hayes, had a heated debate with the popular nocoiner Nouriel “Dr.Doom” Roubini. 

However, as Cryptopotato reported back in November 2018, the Hong Kong-based exchange began shutting down US-based accounts. That’s why it’s rather questionable whether the CFTC investigation will yield any fruits. 

 

The post BitMEX Exchange Sees 3 Days Positive Cash Inflows: Signs Of Relief Following CFTC Investigation? appeared first on CryptoPotato.

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