BitMEX delays listing of its native token BMEX

Representatives of the company noted that they are ready to put the asset up for auction, but the current market conditions are “not ideal” for the holders

12.07.2022 - 12:00

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What’s new? Cryptocurrency exchange BitMEX has delayed the listing of its native token BMEX, citing market volatility. Company representatives said they were ready to list BMEX for trading, but called current market conditions “not ideal” for token holders. For such an important event, timing is as essential as other factors, the blog noted. The listing date has not been given.

Information on the blog

What is known about the token? BitMEX announced the launch of its token in December 2021 and as of January 2022 had distributed 1,5 million BMEX to users. The company says it continues to issue tokens to traders and new participants. Exchange customers can now stake the asset to receive discounts on transaction fees and withdrawals. The maximum stock of the asset is 450 million units.

Earlier, BitMEX limited access to the platform for residents of the Russian Federation, who used its services from the EU countries. The changes are related to the EU sanctions. They affected Russian citizens, including persons “trading on behalf of any legal entity that receives access to the services of the exchange from the EU,” as well as companies located or established in Russia, whose traders use the platform while in the EU.

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