Latest news with #BitMEX
Business Insider
16-07-2025
- Business
- Business Insider
BitMEX Launches Summer Supercharge Trading Competition With 3 BTC Prize Pool
BitMEX, the safest crypto exchange, announced today the launch of its Summer Supercharge Trading Competition, allowing traders to compete for their share of a 3 BTC prize pool, travel funds, MacBooks, and more. The competition will run from 16 July 2025 at 11:00 AM (UTC) to 8 August 2025 at 11:59 PM (UTC). Users can participate in the competition anytime during the campaign period. Rewards will be distributed across three leaderboards: All new traders who join the competition can also win their share of an additional 10,000 USDT prize pool based on their trading volume. To participate in the Summer Supercharge Trading Competition, new customers must be fully verified on BitMEX. Competition details and registration can be found here. About BitMEX BitMEX is the OG crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs through low latency, deep crypto native liquidity and unmatched reliability. Since its founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable. BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with. For more information on BitMEX, users can visit the BitMEX Blog or and follow Telegram, Twitter, Discord, and its online communities. For further inquiries, users can contact press@
Yahoo
12-07-2025
- Business
- Yahoo
Token founded by Ripple co-founder gains 70% in a week
Token founded by Ripple co-founder gains 70% in a week originally appeared on TheStreet. As Bitcoin hit a record high of $118,856.47 on July 11, it also provided a tailwind for altcoins to rally. While other altcoins posted impressive gains, one token that usually remains under the radar took everyone by surprise — one shot ahead by a mile. Over the last seven days, Bitcoin has surged by 8.7%, Ethereum 17.6%, XRP 26.4%, Solana 9.5%, Dogecoin 22.2%, and ADA 25.7%. However, this less-discussed altcoin has posted a weekly gain of 70%. We are talking about Stellar Lumens (XLM) that reached as high as $0.4131 on July 12, its highest point since early by Ripple co-founder Jed McCaleb in 2014, Stellar Lumens doesn't seem to create as much noise as XRP or other altcoins within the crypto community. However, its recent rally has sent the crypto community into a state of euphoria. Popular crypto handle on X, @LLuciano_BTC, highlighted how XLM is outperforming many of its competitors. With a market cap of $12.5 billion, XLM is the twelfth-largest cryptocurrency. Its trading volume within the last 24 hours is $2.7 billion. BitMEX co-founder Arthur Hayes, a prominent voice in the crypto circles, urged the community to "get ready for a monster alt szn," given BTC has hit a record high and ETH is also following in its footsteps. To gauge whether an alt season is underway, a key metric to analyze is Bitcoin dominance. It refers to BTC's share of the total crypto market cap. When Bitcoin dominance dips, it means altcoins are gaining more market cap, pointing toward an alt season. As per TradingView, Bitcoin dominance stood at 64.60% at the time of writing. The metric doesn't indicate any sign of an upcoming alt season, even if altcoins such as XLM are going through the roof. Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing. Token founded by Ripple co-founder gains 70% in a week first appeared on TheStreet on Jul 12, 2025 This story was originally reported by TheStreet on Jul 12, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
Wall Street analyst hints the GENIUS Act could indeed be genius
Wall Street analyst hints the GENIUS Act could indeed be genius originally appeared on TheStreet. Crypto analyst and former CEO of BitMEX, Arthur Hayes, has revealed why the US government is so curious about stablecoins. Stablecoins are cryptocurrencies directly pegged to or backed by the US dollar. In his blog, Hayes zeroed in on U.S. Treasury Secretary Scott Bessent's strong support for stablecoins, suggesting that this support may not be driven by a genuine interest in financial innovation, but rather by practical fiscal policy. The U.S. government, Hayes notes, is under significant fiscal pressure due to growing deficits and debt and lacks a politically feasible way to raise taxes substantially. The US debt ceiling has reached $5 trillion as of July 8. The government has traditionally financed itself by issuing bonds. However, the market has become increasingly hesitant to purchase long-term government debt without significantly higher interest rates. However, substantially higher interest rates would also considerably increase government borrowing costs, something the Treasury is eager to challenge led the Treasury to think about whether stablecoins could solve their challenges. Recently proposed in the GENIUS Act, with bipartisan support and the backing of Secretary Bessent. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act aims to create a regulatory framework for stablecoin issuers. However, Hayes predicts it will enable many U.S. banks—not just fintech start-ups—to issue stablecoins at scale. According to Hayes, the banks would then convert their enormous customer deposits into stablecoins, creating a relatively large new pool of money to be used for purchasing short-term U.S. government bonds, also known as in this context, would not pay interest directly to customers. Hence, banks could generate a profit by using stablecoin funds to invest in T-bills, which offer a solid yield with negligible risk. Hayes argues that this monetary strategy serves several purposes: it enables banks to substantially reduce their compliance and operational costs through the operational efficiency of blockchain. Hayes figures this would allow for the conversion of about $6.8 trillion in deposits from traditional banks into stablecoins and push them into treasury purchases. This increase in stablecoin-based funding would help keep government bond yields from rising, reducing borrowing costs, and preventing possible capital market chaos. Wall Street analyst hints the GENIUS Act could indeed be genius first appeared on TheStreet on Jul 8, 2025 This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
02-07-2025
- Business
- Arabian Post
Limitless Secures $4 Million to Turbocharge Token Launch
Limitless, the leading prediction-market platform on Base, has closed a $4 million strategic funding round to bolster its forthcoming token generation event. The injection, led by Coinbase Ventures and featuring Arthur Hayes's family office Maelstrom, elevates the total capital raised to $7 million. Hayes, co‑founder of BitMEX, also joins as an adviser, lending his market insight just as the platform unveils a new points system designed to reward active users. Limitless has carved a niche by offering ultra-short-term asset price markets—contracts that settle within minutes or hours, akin to zero-day-to-expiry options but without the complexity. These have amassed over $250 million in traded volume since launch. With a user base hungry for fast-paced, accessible trading, the platform is now integrating a points programme capable of rewarding participants for trading activity, liquidity provision, and community referrals ahead of its token rollout. CEO CJ Hetherington frames the initiative as a gateway to democratise crypto markets: 'The future of trading is easy, fast, and powered by an army of token holders. We're excited to bring this vision to reality'. The points programme, expected to support token distribution through an airdrop, is aimed at deepening engagement and rewarding loyal users. ADVERTISEMENT The capital will also underwrite a newly launched mobile-first trading interface optimised for global accessibility. The app provides streamlined navigation and faster execution, catering to both casual novices and experienced traders keen on trading on-the-go. Platform enhancements funded by this round include improved infrastructure, expanded feature sets, and beefed-up user acquisition efforts to cement Limitless's edge in the burgeoning decentralised finance prediction market space. The funding round saw participation from top-tier blockchain investors such as 1confirmation, Collider, Node Capital, Paper Ventures, Public Works, Punk DAO, WAGMI Ventures, and the Base Ecosystem Fund via Echo, underscoring strong ecosystem confidence. These backers also supported an earlier $3 million pre‑seed round led by 1confirmation. Limitless plans to become the first major prediction-market protocol to tie its token launch to user engagement, deploying a gamified reward mechanism through its points system to qualify early users for airdrops. This approach reflects broader DeFi trends where platforms align incentives with active, committed participants—creating more sustainable engagement and network vitality. Arthur Hayes's entry as adviser signals strategic depth. His track record at BitMEX suggests he will guide Limitless through nuanced liquidity strategies, regulatory landscapes, and potential volatility management—all pivotal areas for a prediction-market platform targeting rapid growth. Limitless's commitment to innovation is clearly evident. Since launch, it has recorded over $250 million in volume, driven by demand for accessible high‑frequency trading instruments on Bitcoin and other assets. The new funding and points engine prepare Limitless to amplify that momentum, with the token launch slated to reward the platform's most engaged users and cement its position in the DeFi ecosystem. Operationally, this means investing in scalable architecture and user-centred design, while nurturing a community aligned around incentives that both drive platform usage and distribute value equitably. This dual focus on infrastructure and engagement marks a maturing phase for Limitless as it transforms from promising startup to market contender in prediction markets.
Business Insider
30-06-2025
- Business
- Business Insider
BitMEX Study Reveals 90% Drop in Extreme Bitcoin Perpetual Futures Funding Rates Since 2016, Signalling Market Maturation
Mahe, Seychelles, June 30th, 2025, Chainwire BitMEX, the safest crypto exchange, today announced the findings of its comprehensive study on XBTUSD, the longest-running Bitcoin perpetual swap, to shed light on the evolution of the funding rate market. The research, spanning from May 2016 to May 2025, reveals a significant shift in funding rate patterns, marking a transition from high volatility to unprecedented market stability. Since BitMEX pioneered perpetual swaps in 2016, they've become one of the most traded financial products worldwide. A key component of these products are funding rates, which are periodic payments made between long and short position holders of a perpetual swap contract to maintain a token's futures price with its spot price. Funding rates are crucial for identifying market arbitrage opportunities and to gauge market sentiment. The study, which delved into the extensive history of BitMEX's XBTUSD perpetual swap, uncovered several key insights: Extreme Funding Rates Plummet by 90%: Since 2016, the occurrence of extreme funding rates has dropped by a staggering 90%. Notably, data from 2024-2025 shows remarkable stability, even as Bitcoin surged past $100,000. This trend indicates a clear maturation of the crypto market, transforming Bitcoin from a highly speculative asset into a more stable financial instrument. Mainstream Integration Drives Stability: The launch of Bitcoin ETFs in January 2024 and the emergence of decentralised finance (DeFi) protocols like Ethena have been instrumental in facilitating large-scale arbitrage, further anchoring futures prices to spot prices and contributing to market efficiency. Era of Stable Funding Rates: The current environment of stable funding rates suggests significantly reduced market volatility. This stability could position Bitcoin as a more reliable asset for institutional portfolios, with potential wider implications for traditional financial markets. "Our study highlights a profound transformation in the Bitcoin perpetual swap market," said Stephan Lutz, CEO of BitMEX. "The dramatic reduction in extreme funding rates on XBTUSD underscores the growing maturity and institutional acceptance of crypto. As one of the oldest crypto exchanges, we're excited to be able to share such market insights for our traders and reinforce the industry's integration into the global financial landscape.' More details about the study can be found here. About BitMEX BitMEX is the OG crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs through low latency, deep crypto native liquidity and unmatched reliability. Since its founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable. BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with. For more information on BitMEX, users can visit the BitMEX Blog or and follow Telegram, Twitter, Discord, and its online communities. For further inquiries, users can contact press@
