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Inside the mystery of BitMEX’s insurance fund

The BitMEX insurance fund was marketed as protection but a new lawsuit alleges it grew on collateral stripped from customers.

BitMEX to close, but what about its $270M insurance fund?

BitMEX announced it will close in September, following “a strategic review of the business and the broader crypto industry.”

Pardoned BitMEX founder Ben Delo is funding a political network in Westminster that’s attracted a host of right-wing figures.

According to OpenSecrets, BitMEX paid nearly $800K between 2019 and 2021 to lobbying and consultancy firm Edelman.

As crypto prices fell over the past seven days and market caps shed billions of dollars, investors found the perfect scapegoat in Wintermute.