More than 32,000 bitcoin or about $335M has been withdrawn from BitMEX after the US government charges its owners

More than 32,000 bitcoin or about $335M has been withdrawn from BitMEX after the US government charges its owners
HeadlinesNewsMore than 32,000 bitcoin or about $335M has been withdrawn from BitMEX after the US government charges its owners

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More than 32,000 bitcoin or about $335M has been withdrawn from BitMEX after the US government charges its owners

The Block3 months ago
Published on October 02, 2020 10:00 GMT+0edited on October 02, 2020 10:06 GMT+0

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More than 32,000 bitcoin, currently worth about $335 million, has been withdrawn from BitMEX in less than 24 hours after the U.S. government filed charges against the crypto derivatives exchange's owners.

The withdrawal figure was revealed by Philip Gradwell, chief economist at blockchain analytics firm Chainalysis, on Friday at around 430 AM EST. Gradwell said BitMEX withdrawals are already adding about 25% more liquidity to the bitcoin market.

Some of the withdrawn bitcoins are going to Gemini and other known exchanges, while some to exchanges with personal wallets, said Gradwell, who thinks more withdrawals may follow in subsequent blocks.

Crypto data and analytics firm CoinMetrics said more than 37,000 bitcoin, currently worth about $387 million, has been withdrawn from BitMEX. The …