BitMEX sees over $85 million in withdrawals following CTFC investigation

20 Jul, 2019
by Ryan Boltman
News
BitMEX sees over $85 million in withdrawals following CTFC investigation

Massive withdrawals have been seen at BitMEX following the news that the Commodity Futures and Trading Commission (CFTC) is investigating BitMEX due to suspicion of illegally offering trading to citizens in the U.S.

According to TokenAnalyst who analyzes inflows and outflows of major exchanges, BitMEX saw the highest amount in withdrawals over the past 24 hours, most likely due to the recent investigation news, which will see the Commodity Futures and Trading Commision invetigate the exchange for offering trading services to U.S citizens. 

Token Analyst reports that BitMEX saw $85 million in withdrawals compared to $54 million withdrawn from Binance and $52 million withdrawn from Bitstamp. While Binance and Bitstamp might also seem quite high, both exchanges saw relatively equal amounts of deposits into the exchange while BitMEX only saw $12 million deposited into the exchange. 

It is quite evident that customers began moving out their funds from the margin trading platform due to the recent news and is likely to continue as BitMEX customers fear the exchange may be shut down.

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