BitMEX Launches New Token; Will There Be a BitMEX Airdrop for Old Users? https://ift.tt/3EgLFpW

Popular peer-to-peer crypto trading platform BitMex has revealed in a recent tweet, a new beginning for the company.

The tweet read,

“We’re thrilled to announce the minting of our token, BMEX.” According to the announcement, the new token was termed “The Token for True Believers!”

Additional info on the release of the new token revealed that the BMEX Tokens will be made available to both existing and new users. The platform mentioned that it will be airdropping crypto tokens (BMEX) into users’ BitMEX wallets by 1 February 2022.

While it has been stipulated that airdrop will be given out to old and new users, it is still not clear if BitMex will hold a separate additional airdrop for old users, to compensate them for using BitMex services for a longer period than others.

Apart from the airdrop, interested individuals can also earn the new BMEX tokens in 3 other ways. First, the platform promises to offer 5 BMEX tokens in addition to 10 USDT to newly registered users.

Secondly, those who trade on the platform can receive up to 25% of their trading fee worth of BMEX tokens. Lastly, the platform offers up to 15 BMEX tokens to anyone that refers 3 friends to BitMex and gets them to successfully register.

The crypto exchange and derivative trading platform which was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed is a subsidiary of HDR Global Trading Limited.

After years of operation, the platform faced civil charges from the United States Commodity Futures Trading Commission (CFTC), just last year, for allegedly operating an unregulated exchange and failing to implement anti-money laundering (AML) and know-your-customer (KYC) requirements.

Due to those charges and to comply with established regulatory standards, the company had to make some changes. BitMex accelerated its KYC compliance deadline and hired a new compliance officer, Malcolm Wright.

In addition, the company recently reached an agreement with both the CFTC and the Financial Crimes Enforcement Network (FinCEN) to pay a $100 million penalty which will be split equally between the two regulators, to resolve the civil charges against it.

Amid the lawsuit and regulatory chaos facing the platform, the newly released BMEX token is definitely a pleasant development.