Daily Market Update - May 18, 2020 BitMEX Accused of Money Laundering & Market Manipulation- Lawsuit


$BTC 24 Hour High $9,906.03 $BTC 24 Hour Low $9,470.25 $BTC +4.5%


A new Civil lawsuit has been filed against the parent of crypto derivatives exchange BitMEX, HDR Global Trading Limited, as well as ABS Global Trading and its co-founders Arthur Hayes, Ben Delo and Samuel Reed, accusing them of illegal activities such as money laundering.


The 106-page lawsuit, filed on Saturday by plaintiff BMA LLC in the U.S. District Court for the Northern District of California, alleged that BitMEX was designed to engage in illegal activities such as racketeering, money laundering and market manipulation, earning the defendants "billions of dollars in illicit profits." Crypto publication ForkLog first published the complaint.


The plaintiff further alleged that BitMEX operates an unlicensed money transmitting business. "According to Defendants' own data, Defendants' unlicensed money transmitting business admittedly processed, on average, $3 billion of illegal and unlicensed money transfers each day, all in violation of United States federal statute..., which is the record volume for such unlawful activity in the entire history of the monetary regulation in the United States," read the lawsuit. source: shorturl.at/bxIJU


Traditional markets today reacted to Fed Chairman Powell's remarks and Moderna's announcement of a potential Corona Virus Vaccine with a strong upward tick. Hard Money believers and followers of Austrian Economics principles collectively gagged. It's also increasingly difficult for skeptics to understand the need for a vaccine against a virus that has a 99% recovery rate. Which is leading many to speculate on a hidden agenda that is totally unrelated to any virus. One which see's government's around the world seize the rights of citizens in the name of Public Health, similar to what the Patriot Act did post 9-11.


Bitcoin saw a post halving test of $9500 range today, and remained steady with the price at $9696.32 at the time of writing. Total Crypto Market Cap: $266.4 billion.

24-Hour Crypto Volume: $145.1 billion(-20.1%). BTC Dominance: 68.2% (-1.76%)


Crypto Calendar

May 18   - Crypto Asia Summit (Virtual)

May 19   - ANON Summit (Virtual)

May 21   - Global Investors Online Summit Spring (Virtual)

May 25   - BlockConf Digital 2020 (Virtual)

May 25 - Digital Week Online 2020 (Virtual)




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