BitMEX Halts Operations Sept 23; Platform Token BMEX Crashes 99.69% Overnight

BMEX-92.02%
According to market data, BitMEX announced yesterday it will cease operations on September 23 and has suspended new user registrations. The exchange's platform token BMEX plummeted 99.69% overnight amid concerns over liquidity issues. CEO Arthur Hayes responded, expressing pride in what the team has built together. On-chain analysis by Bubblemaps reveals that 75% of the total BMEX token supply never circulated on-chain, contributing to the token's extreme volatility.
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