Blockchain Press Releases
BitMEX achieves industry-leading low on-chain AML risk profile through strategic partnership with Chainalysis
BitMEX reports a 35% lower on-chain risk exposure than global averages, demonstrating its commitment to cutting-edge security and regulatory adherence.
VICTORIA, Seychelles, Oct. 22, 2024 /PRNewswire/ — BitMEX, the world’s leading crypto derivatives exchange, has announced that it continues to maintain a low on-chain Anti-Money Laundering (AML) risk profile, successfully reducing its risk exposure from 1.7% in 2019 to just 0.2% in 2024. This 88% reduction in on-chain risk exposure over the past five years is a direct result of BitMEX’s collaboration with Chainalysis, combined with substantial investments in compliance controls and advanced blockchain analytics. With its on-chain risk exposure 35% below the global average of 0.304%, BitMEX demonstrates its steadfast commitment to security and regulatory adherence, setting a new industry standard since 2019.
As the industry navigates complex regulatory environments, BitMEX has turned compliance into an opportunity for leadership. Ongoing compliance efforts include bi-weekly updates to its Proof of Reserves and Liabilities, the use of geo-blocking technology to minimise sanctions-related risks, and regular external AML audits to ensure compliance accuracy. BitMEX also integrates advanced tools to monitor both on-chain and off-chain activity, reinforcing its comprehensive approach to risk management.
Leveraging Chainalysis’ cutting-edge blockchain analytics, BitMEX has implemented robust mechanisms to assess, monitor, and mitigate on-chain risks. On-chain risk exposure refers to the risks associated with the flow of digital assets, especially concerning their origin or destination, and BitMEX’s proactive stance on mitigating these risks reinforces its leadership in safeguarding the crypto ecosystem.
Stephan Lutz, CEO at BitMEX said, “As we continue to prioritise the safety of our users and create a secure trading environment, our collaboration with Chainalysis has allowed us to stay ahead of evolving compliance standards. By integrating advanced blockchain analytics into our comprehensive risk management strategy, we have not only reduced on-chain risk exposure but also strengthened the trust our users place in us. This partnership ensures that BitMEX leads the industry in both security and regulatory adherence, giving our traders confidence in the safety of their assets.”
The BitMEX compliance framework has evolved to reflect the highest standards in the industry. Central to this transformation is its risk-based approach to threshold tuning, which integrates insights from Chainalysis’ detailed typologies and behavioural analytics. The platform’s commitment to data integrity is evidenced by periodic testing and scenario selection based on the latest threat models, ensuring that its AML programme consistently meets regulatory expectations.
“BitMEX has continuously taken an innovative and proactive approach towards enhancing their risk management strategy and prioritising consumer safety,” said Diederik Van Wersch, Regional Director, ASEAN & Hong Kong, Chainalysis. “The team has always valued a strong collaboration when working with Chainalysis, and it’s really impressive to see their investment in a skilled investigations and compliance team, and the adoption of advanced tools – which have yielded impressive results.”
BitMEX’s efforts highlight its leadership in setting new benchmarks for transparency and regulatory adherence in the crypto space. With the continuous implementation of rigorous AML programmes and real-time monitoring systems, the platform is uniquely positioned to offer a secure and compliant environment for traders worldwide. More details on BitMEX’s transformation of its risk profile is available via a Chainalysis case study here.
About BitMEX
BitMEX is the leading crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep liquidity and unmatched reliability.
Since our founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable.
BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with.
For more information on BitMEX, please visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram and Twitter.
View original content:https://www.prnewswire.co.uk/news-releases/bitmex-achieves-industry-leading-low-on-chain-aml-risk-profile-through-strategic-partnership-with-chainalysis-302282432.html
Blockchain Press Releases
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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View original content:https://www.prnewswire.co.uk/news-releases/markets-show-resilience-ahead-of-end-of-year-options-expirations-bybit-x-block-scholes-crypto-derivatives-report-302339299.html
NICOSIA, Cyprus, Dec. 26, 2024 /PRNewswire/ — BC.GAME has launched its latest slot game, Wukong, inspired by the highly acclaimed Black Myth: Wukong, a groundbreaking AAA game that has captivated players worldwide. Officially released on December 24, this 6-reel, 5-row slot game allows players to experience the essence of Wukong’s legendary journey while aiming for rewards of up to 10,000 times their bet.
The game incorporates iconic symbols and elements from Black Myth: Wukong, such as the Ruyi staff, gourd bottles, and treasure pearls, designed to recreate the mythical atmosphere of the original story. The addition of the Sticky Symbols feature enhances gameplay by keeping special symbols locked in place during free spins, significantly increasing the chances of winning and unlocking larger rewards.
Dark Visual Design and Storytelling Behind Wukong
The visual design of Wukong draws from traditional Chinese art styles, blending elements from Journey to the West. The reels are filled with recognizable symbols like the Ruyi staff, gourd bottles, and treasure pearls. These symbols immerse players in the mythical world of the story, faithfully recreating key moments from the novel, such as Sun Wukong’s havoc in Heaven and his encounters with the White Bone Demon.
The game’s background is rooted in Journey to the West, where Sun Wukong embarks on a journey with the monk Tang Seng and his companions to obtain sacred scriptures. Each detail of the game is carefully crafted to bring this legendary tale to life, offering a unique gaming experience and a tribute to Chinese culture and mythology.
Key Features of the Wukong Slot Game:
Free Spins and Bonus Opportunities: Triggering free spins unlocks additional reward mechanisms, increasing the chances of landing big wins.
Sticky Symbols Feature: Special symbols remain in place during free spins, greatly enhancing winning potential.
Up to 10,000x Max Win: The game offers a maximum payout of up to 10,000 times the bet, providing significant winning opportunities.
“Wukong is not just about spinning reels; it’s about experiencing a rich part of Chinese culture. We’ve worked hard to ensure the game is stunning and fun and engaging for players, with layers of features that add excitement. We’re proud to offer a game that blends storytelling with gameplay, and we think players will love the journey through Wukong’s legendary world,” Jack Dorset, CEO of BC.GAME said.
About BC.GAME
BC.GAME is a leading online gaming platform that integrates blockchain technology and cryptocurrency into its casino games, by offering a secure, transparent, and decentralized experience, BC.GAME allows players to enjoy a variety of gaming options, including slots, table games, and live casino offerings. The platform is dedicated to providing players with exciting, fair, and innovative ways to engage with the world of gaming. citing, fair, and innovative ways to engage with the world of gaming.
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View original content:https://www.prnewswire.co.uk/news-releases/bcgame-launches-monkey-king-themed-slot-game-wukong-302339192.html
Blockchain Press Releases
WSPN Appoints Former EY Global Chief Innovation Officer Jeff Wong as Independent Director
SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading stablecoin infrastructure company, announces the appointment of Jeff Wong as Independent Director. Mr. Wong brings over 25 years of experience in technology innovation and enterprise transformation to WSPN. He most recently served as EY’s Global Chief Innovation Officer from 2015 to 2024, where he spearheaded the firm’s global innovation initiatives and established EY’s advanced technology labs focusing on Artificial Intelligence, Blockchain, Quantum Computing, and Web3.
Prior to EY, Mr. Wong held leadership roles at eBay and JPMorgan Partners. He is a member of the Council on Foreign Relations, the Forbes Technology Council, and the founding Chair of Asia Society’s Technology and Innovation Council, helping drive the innovation and transformation agenda. He was also a member of the World Economic Forum’s Global Future Council on Innovation Ecosystems. He has previously served on the Oxford Foundry Board at Oxford University and the Advisory Board for AI4All. Mr. Wong is a recipient of the Outstanding 50 Asian Americans in Business award and an honoree of the A100 List by Gold House, recognizing individuals with Asian Pacific heritage who have made a significant impact on American culture and society.
“Joining WSPN at this pivotal moment in the stablecoin industry is incredibly exciting,” said Mr. Wong. “I look forward to contributing my experience in emerging technologies and enterprise transformation to help WSPN build the next generation of digital payment infrastructure.”
“Jeff’s appointment represents a significant strategic addition to WSPN,” said Raymond Yuan, Founder and CEO of WSPN. “His deep expertise in innovation management, enterprise transformation, and emerging technologies, combined with his leadership experience at global institutions, will be invaluable as we accelerate our market expansion and global development.”
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
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View original content:https://www.prnewswire.co.uk/news-releases/wspn-appoints-former-ey-global-chief-innovation-officer-jeff-wong-as-independent-director-302338852.html
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