- BitMEX’s Insurance Fund has surpassed $200 million – holding 26,388 BTC (0.15% of all BTC in circulation)
- In its 3+ year history, there haven’t been many significant drawdowns; the largest happened on April 12, 2018 ($5.1 million of BTC)
- The fund has seen positive monthly inflows for 26 consecutive months
- The biggest outlier was November 2018, in which $22.2 million was added to the fund
- The fund still lacks a public breakdown of funds per-contract, which makes the drawdown process quite opaque
BitMEX’s Insurance Fund surpassed $200 million for the first time yesterday; holding 26,388 BTC, which is 0.15% of all bitcoins in circulation.
BitMEX is an exchange for trading perpetual swaps, a type of derivatives contracts similar to futures contracts but without expiry dates and settlement. Instead of settlement, which converges price towards the spot price in futures, a funding mechanism is used.
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