The BitMEX Insurance Fund has increased to holding over 31,300 bitcoins or approximately $314 million. This means the fund managed by the derivatives exchange BitMEX holds nearly 0.15% of the total supply of bitcoins. The fund has experienced a 50...
The BitMEX Insurance Fund has increased to holding over 31,300 bitcoins or approximately $314 million. This means the fund managed by the derivatives exchange BitMEX holds nearly 0.15% of the total supply of bitcoins. The fund has experienced a 50.7% increase from its holdings since the beginning of 2019.
The BitMEX Insurance Fund is used to alleviate unfilled liquidation orders on the platform. Due to how BitMEX's platform and products are structured, the exchange does not require payments from its traders who have negative account balances when they are liquidated in a levered trade. Instead, the exchange uses its Insurance Fund to ensure the winning party of a trade receives their expected profits even if the losing party's losses do not cover the winning party's gains.
source https://www.tokentalk.co/The Block/the-bitmex-insurance-fund-is-up-50-since-the-beginning-of-2019-holds-more-than-300-million-5d6302112acedc681ba2ee93
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