BitMEX's bitcoin balance has dropped more than 60% since March 2020

[Fawpac2]

Crypto derivatives exchange BitMEX, once the dominant player in the futures market, has lost its number one position in recent months.

Two major events - the March 2020 market sell-off and the twin lawsuits filed against BitMEX by the U.S. government last October- appear to have impacted the exchange.

BitMEX's market share, in terms of open interest on bitcoin futures, declined 13% in 2020. Its bitcoin balance has undergone a significant reduction, declining by more than 62% since March of last year.
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