Bitcoin (BTC) outflows on major crypto exchange BitMEX have notably exceeded the inflows after the firm was reported to be a subject in a regulatory investigation.
Bitcoin outflows on BitMEX exceeded inflows by $73 million
Over the past 24 hours, BitMEX saw an outflow of $83 million worth of Bitcoin, while only $12 million came in, London-based blockchain data provider TokenAnalyst reported in a tweet on July 19.
While such a discrepancy appears to be abnormal in comparison with other exchanges, such as Binance, which saw a $54 million outflow alongside an inflow of $58 million, BitMEX exchange has experienced outflow dominance several times before, according to TokenAnalyst.
Bitcoin outflow dominance on BitMEX is normal due to the amount of Bitcoin held on the platform
The spike of Bitcoin outflows came amid recent reports that United States regulator the Commodity Futures Trading Commission (CFTC) launched an investigation of the company. The authority is allegedly probing BitMEX as the United States is one of the countries excluded from using the exchange, which is registered in the Seychelles.