Market Statement from the Deputy CEO of Cryptocurrency Exchange BitMEX: ‘The Bad Days Are Over!’

Cryptocurrency among the exchanges that want to increase their market share in the BitMEX Deputy CEO and chief financial officer Stephen Lutz made statements.

Lutz He said that crypto exchange BitMEX was built to weather the current market turmoil caused by the bankruptcy of three US crypto-friendly banks within a week.

Acting CEO of Cryptocurrency Exchange BitMEX: ‘We Passed Through Death Valley’

“The current market situation is actually what BitMEX was originally built by our founders,” Lutz said in an interview.
“We think we’ve been through death valley since the end of last year,” he added.

“We are seeing positive signs in the market and we are reaping these benefits. We are so grateful that the ecosystem and community trust us as a true crypto exchange focused on crypto.”

Lutz said that if a crypto exchange is focused on derivatives, is secure, segregates client assets, and has limited or no connection to the fiat world, it is likely in development.

Outlining its 2023 forecasts in a new report, BitMEX is seeing an increase in its volumes and market share.

We’re going back to monetary expansion and more money supply that triggers inflation. This in turn drives up crypto prices, especially to the extent that you use your Bitcoin as an inflation hedge, he said. He said that’s what happened in the last two weeks.

Earlier this month, BitMEX co-founder Arthur Hayes proposed a stablecoin called nakaDollar (NUSD).

Hayes said that the Bitcoin and Bitcoin derivatives-backed token would be highly liquid and attractive to investors. It will enable member crypto firms to be pegged to the US dollar.

Lutz stated that the token would be “a stable unit of account, tied in effect to the US dollar, but without the risks of the current stablecoin system.”

*Not investment advice.