BitMEX Introduces Spot Markets Ahead of Court Sentencing

BitMEX Introduces Spot Markets

Cryptocurrency exchange BitMEX has launched an array of spot markets on its platform ahead of the sentencing of its creators Arthur Hayes and Ben Delo set for Friday.

The exchange will support seven-spot trading pairs with Bitcoin, Ether, LINK, UNI, MATIC, AXS, and APE, all traded against Tether.

BitMEX has announced a giveaway of $1 million in cryptocurrency for users that place trades on the spot pairs.

The exchange was unveiled in 2014 as a derivative exchange as its debut perpetual swap contract; future contracts with no expiry need less margin and enable higher leverage. The network’s rivals include FTX and Binance Futures.

The market perspective of BitMEX plunged when the U.S. authorities charged Hayes and Delo in 2020 for undertaking unregistered trading and other violations. The duo now faces between 6 and 12 months imprisonment.

Source: Coindesk

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