{"id":274743,"date":"2020-10-03T22:16:39","date_gmt":"2020-10-04T02:16:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=274743"},"modified":"2020-10-03T22:17:03","modified_gmt":"2020-10-04T02:17:03","slug":"bitmex-sheds-45000-bitcoins-as-four-major-exchanges-benefit","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitmex-sheds-45000-bitcoins-as-four-major-exchanges-benefit","title":{"rendered":"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit"},"content":{"rendered":"

After the US government charges on BitMEX<\/a>, the exchange company has shed up to 45,000 Bitcoin<\/a>, making Huobi, OKEx, Binance, and Gemini the biggest beneficiaries of the exchange\u2019s slump.<\/p>\n

This month alone, BitMEX and its leadership were charged by both the DOJ and the CFTC. As if that was not enough, the exchange\u2019s founders as well as chief executive officer Arthur Hayes were charged by the U.S. government.<\/p>\n

In response to the news, the market witnessed a heavy fall in activities across a lot of blockchain\u2019s biggest assets. The sharp decline and subsequent backlash resulted in a rise in trading activities for other top exchanges in the world<\/a>.<\/p>\n

It was a clear sign that investors and traders were not too confident on the exchange after the incident.<\/p>\n

BitMEX\u2019s problem continues<\/h2>\n

It\u2019s not the first time the exchange is facing a financial slump. After a blackout on Black Thursday that prevented users from trading or withdrawing their assets, BitMEX started losing its reputation. The confidence of participants on the exchange dropped significantly during the first crisis of the exchange. Now it seems the participants have even lost more confidence in the exchange, as massive withdrawals followed after the second issue.<\/p>\n

\"\"<\/a><\/p>\n

Based on data from Crystal blockchain, the amount of Bitcoin going out of the exchange to have exceeded 45,000 Bitcoins. However, while BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well from Bitminex\u2019s loss.<\/p>\n

Exchanges such as Binance<\/a> and Gemini<\/a> seem to be the biggest gainers from the outflows, trailed by Huobi<\/a> and OKEx<\/a>. More than 20,000 Bitcoins have already been transferred from BitMEX to those exchanges.<\/p>\n

But it is believed that the remaining 25,000 Bitcoins are held by other exchanges. With the massive number of outflows from BitMEX, the exchange has a long way to gain back investors\u2019 confidence and regain its foothold in the industry.<\/p>\n

It is not clear how the exchange plans to solve the issues it\u2019s having or whether it will finally go into extinction like so many other exchanges in the past.<\/p>\n

According to Lance Morgrinn, a former supervisory agent at the Department of Homeland Security and The chief executive officer of Blockchain Intelligent Group, BitMEX is most likely going to face monetary penalties, particularly the company\u2019s executives. The penalties will be to prevent them from engaging in unlawful activities in the future. But time will tell whether the exchange can rise from its present turmoil and maintain its status as a top exchange company in the world.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

After the US government charges on BitMEX, the exchange company has shed up to 45,000 Bitcoin, making Huobi, OKEx, Binance, and Gemini the biggest beneficiaries […]<\/a><\/div>","protected":false},"author":1717,"featured_media":241948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,8056,5319,7598,7599,7893],"class_list":["post-274743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-bitmex","tag-btc","tag-crypto","tag-market","tag-trading"],"acf":[],"yoast_head":"\nBitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit<\/title>\n<meta name=\"description\" content=\"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit\" \/>\n<meta property=\"og:description\" content=\"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-04T02:16:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-04T02:17:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1579\" \/>\n\t<meta property=\"og:image:height\" content=\"888\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ali Raza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ali_r1272\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ali Raza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\"},\"author\":{\"name\":\"Ali Raza\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\"},\"headline\":\"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit\",\"datePublished\":\"2020-10-04T02:16:39+00:00\",\"dateModified\":\"2020-10-04T02:17:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\"},\"wordCount\":434,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg\",\"keywords\":[\"Bitcoin\",\"BitMEX\",\"btc\",\"Crypto\",\"Market\",\"Trading\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\",\"name\":\"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg\",\"datePublished\":\"2020-10-04T02:16:39+00:00\",\"dateModified\":\"2020-10-04T02:17:03+00:00\",\"description\":\"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg\",\"width\":1579,\"height\":888,\"caption\":\"BitMEX Commits an Email Blunder, Potentially Compromises User Data\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search & Compare Brokers within Crypto, Forex & Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\",\"name\":\"Ali Raza\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"caption\":\"Ali Raza\"},\"description\":\"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/alirazak\/\",\"https:\/\/x.com\/ali_r1272\"],\"knowsAbout\":[\"Cryptocurrency\",\"Fintech\",\"Finance\"],\"jobTitle\":\"Editor\",\"url\":\"https:\/\/insidebitcoins.com\/author\/aliraza\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit","description":"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743","og_locale":"en_US","og_type":"article","og_title":"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit","og_description":"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.","og_site_name":"InsideBitcoins.com","article_published_time":"2020-10-04T02:16:39+00:00","article_modified_time":"2020-10-04T02:17:03+00:00","og_image":[{"width":1579,"height":888,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg","type":"image\/jpeg"}],"author":"Ali Raza","twitter_card":"summary_large_image","twitter_creator":"@ali_r1272","twitter_misc":{"Written by":"Ali Raza","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743"},"author":{"name":"Ali Raza","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d"},"headline":"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit","datePublished":"2020-10-04T02:16:39+00:00","dateModified":"2020-10-04T02:17:03+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743"},"wordCount":434,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg","keywords":["Bitcoin","BitMEX","btc","Crypto","Market","Trading"],"articleSection":["Breaking Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743","name":"BitMEX Sheds 45,000 Bitcoins as Four Major Exchanges Benefit","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg","datePublished":"2020-10-04T02:16:39+00:00","dateModified":"2020-10-04T02:17:03+00:00","description":"BitMEX is having serious issues keeping Bitcoins within the exchange, other competing exchange companies are reaping well.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743#primaryimage","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/11\/Bitmex.jpg","width":1579,"height":888,"caption":"BitMEX Commits an Email Blunder, Potentially Compromises User Data"},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search & Compare Brokers within Crypto, Forex & Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d","name":"Ali Raza","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","caption":"Ali Raza"},"description":"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.","sameAs":["https:\/\/www.linkedin.com\/in\/alirazak\/","https:\/\/x.com\/ali_r1272"],"knowsAbout":["Cryptocurrency","Fintech","Finance"],"jobTitle":"Editor","url":"https:\/\/insidebitcoins.com\/author\/aliraza"}]}},"_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1717"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=274743"}],"version-history":[{"count":0,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/274743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/241948"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=274743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=274743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=274743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}