Investor interest in ether futures traded on BitMEX has declined sharply since the Seychelles-based cryptocurrency exchange was charged Thursday with illegally operating an unregistered derivatives-trading platform that accepted U.S. customers.
- At press time, ether futures contracts worth $63 million (179,000 ETH) are open or active on BitMEX, the lowest since May 15, according to data source Skew.
- Open interest is down nearly 50% from the $125 million observed on Oct. 1.
- Last week, the U.S. Commodity Futures Trading Commission (CFTC) filed civil charges against BitMEX, and the Department of Justice brought criminal charges against BitMEXÃ¢ÂÂs owners for facilitating money laundering and other illegal transactions.
- Open interest in ether futures on BitMEX was declining even before last weekÃ¢ÂÂs charges, in line with a downdraft witnessed across the industry. It had peaked at $214 million on Sept. 1.
- SeptemberÃ¢ÂÂs 17% decline in etherÃ¢ÂÂs price likely dented short-term optimism, causing a slide in the open interest across all exchanges.
- Notably, since Thursday, open positions in BitMEX bitcoin futures have also declined by over 20% from $592 million to $456 million.ÃÂ
Also read: Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi
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