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Bitmex Says No Exposure To FTX, BMEX Token Is Still Launching As Scheduled

Despite market instability caused by the fall of FTX, Bitmex, which claims it has no exposure to FTX or Alameda, intends to introduce a native token on Friday.

Bitmex Says No Exposure To FTX, BMEX Token Is Still Launching As Scheduled 2

In the midst of market turmoil, the exchange is still proceeding with its token issuance plan, and with just 1 day left, BMEX will be launched with spot and derivative trading pairs.

In the aftermath of the FTX crash, Sam Bankman-Fried’s exchange has raised questions about the backing assets of exchanges. The “big brother” has called for crypto exchanges to have clear documentation on this matter, and BitMEX has also published a snapshot of proof-of-reserves ahead of Friday’s BMEX listing.

Binance has also announced that the deal to buy back FTX will not come to an end due to the collapse out of control to be able to “save” the situation.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.