BitMEX Exchange Faces Criminal Charges, CTO Arrested – October 2

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$10,462

Bitcoin price dumped back through recent support levels today, taking a double-hit in price from two key news events.

Top-20 altcoins have seen an even bigger impact, as Ethereum falls 8%, XRP drops 6%, and Chainlink tumbles 13%.

Top Stories for October 2, 2020 🔥

👉 BitMEX Exchange Faces Criminal Charges, CTO Arrested

Popular crypto derivatives exchange BitMEX has been slapped with charges by US authorities, with CTO Samuel Reed arrested yesterday.

The exchange has been accused of enabling the laundering of illicit funds, as well as allowing people in sanctioned countries such as Iran to engage in trading on the platform.

BitMEX was founded in 2014 and now regularly posts daily trading volumes of over $1.5 billion, placing them in the top 5 largest cryptocurrency exchanges.

👉 Trump Tests Positive for COVID-19, BTC and Stocks Fall

Both Bitcoin and the stock market fell immediately following Donald Trump’s confirmation that he and his wife Melania had both tested positive for COVID-19.

Both BTC and futures contracts for the S&P 500 fell about 2% each on the news, meanwhile gold prices ticked upwards a third of a percent.

👉 Ethereum Monthly Fees Surpass Block Rewards for First Time in History

For the first time in the history of the network, Ethereum miners have made more revenue in fees than block rewards themselves over the course of a month.

Over the month of September, miners made a total of $172 million in transaction fees, whereas block rewards paid out in September were $150 million.

This was due to transaction fees peaking for a prolonged period of time, in part thanks to the DeFi craze which required high on-chain participation.

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