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Bitcoin bashing economist and author Nouriel Roubini has stated that BitMEX trade against their clients to profit.
Roubini recently took to Twitter to make the accusation, stating that “Insiders at BitMEX racket told me the internal trading group follows the order flow & bets against clients to liquidate them & profit from it”
Insiders at @BitMEXdotcom racket told me the internal trading group follows the order flow & bets against clients to liquidate them & profit from it. And they use "overloads" to rekt u more. As if a dealer at a casino who knows your cards was allowed to bet against you to rekt u
— Nouriel Roubini (@Nouriel) July 18, 2019
The tweet also explains that BitMEX use overloads to liquidate clients too. BitMEX often sees overloads when Bitcoin has major moves, which would not be surprising if true.
Yes.
— Bit World (@_BitWorld) July 18, 2019
This Is right, always is the same with the overloaded.
Biggest exchange in the world @BitMEXdotcom and do not have money to fix the problem? 🤣🤣🤣🤥 pic.twitter.com/17vaW9GceQ
BitMEX is currently the most popular margin trading platform in the business and recently announced it had hit $1 trillion in trading volume over the past year.
Nouriel and BitMEX CEO Arthur Hayes recently held a debate held in Taipei, and the recent Tweet is likely a retaliation to the debate, which saw a hot headed Nouriel go up against a calm Hayes.
However, if BitMEX insiders are right and this is in fact true, it could bring to light some serious issues with the popular exchange and could have an adverse effect on business in the future if confirmed.
NEW CRYPTO MERCH @ STACKING SATS!