Cryptocurrency derivatives exchange BitMEX has announced the launch and airdrop of its own BMEX native token.
Thus, existing and future traders on the platform can earn an asset in the form of a discount on trading commissions. BMEX will also award tokens to new users for registration with KYC (know your customer) procedures.
Another way to get tokens is a referral program. The exchange will send BMEX to users and on February 1, 2022, it will conduct the first airdrop, distributing coins to their accounts.
The owners will receive a number of advantages
Moreover, the owners of the asset will receive a number of advantages, including higher return on deposits on BitMEX Earn; early access to new products on preferential terms; free access to BitMEX Academy training courses.
The total issue of BMEX will be 450 million coins. It is assumed that most of the tokens will be spent on rewarding users and developing the ecosystem. To do this, the exchange will reserve 45% of the issue.
Also, the opportunity to trade and withdraw BMEX will appear approximately at the beginning of the second quarter of 2022. When the BitMEX spot platform will launch. On a quarterly basis, the exchange intends to redeem and burn part of the tokens.
Criminal charges against BitMEX
Earlier, BitMEX settled a civil dispute with the Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN). The company agreed to pay a fine of $100 million. According to FinCEN, BitMEX has not implemented or supported anti-money laundering (AML) and customer verification programs for more than six years.
In October 2020, the CFTC filed a lawsuit against BitMEX. Additionally, the Justice Department charged Arthur Hayes, Ben Delo, Samuel Reed and Greg Dwyer, the company’s head of business development, with violating the Bank Secrecy Act.
Criminal charges against the founders of the exchange, Hayes, Delo, Reed remain in force. The court has scheduled a preliminary hearing for March 2022.