BitMEX and its CEO Arthur Hayes are two Twitter fanatics, Tweeting hundreds of times per month. However, the duo has recently broken usual habits and gone rather quiet. The timing coincides with a Commodities Futures Trading Commission (CFTC) probe into BitMEX, hinting that Hayes and his crypto trading platform have been forced into silence by the CFTC while the probe carries on. That being said, there have been no warnings from either party, explaining the silence.
Roubini Getting the Better of Hayes?
Since mid-June, Roubini and Hayes have had some extreme beef, exchanging flurries of Tweets about one another. It all led to the Tangle in Taipei where Roubini and Hayes faced off head to head in a debate about all things crypto. Roubini was repeatedly told to calm down and stop talking after his allotted time, but actually brought some solid points to the table. On the other hand, Hayes kept spouting the same old lines – crypto gives you control over your finances. While the debate ended in a draw, the two continued to bicker on social media until Hayes went quiet. Did Hayes finally accept that Roubini might be right?
Bitcoin Leaking Out of BitMEX
As soon as the CFTC probe was announced, Bitcoin began flowing out of the BitMEX platform faster than ever before. Just over $73 million left the platform in just under 24 hours after the probe hit the mainstream media. While people claimed the amount of BTC leaving the platform was a normal event, the sheer volume coinciding with Bloomberg reporting the probe is hard to deny as a panicked escape.
Hayes Goes AWOL
Before July 12, Hayes was Tweeting multiple times every day. Since the news of the probe broke he has fallen silent. He hasn’t updated his followers with a new Tweet since July 12, leaving many people fearing the worst. It’s a similar story with the official BitMEX Twitter account. News and platform updates stopped being posted on the company’s handle as of July 15. This worrying sequence of events has left many in the crypto space worried for the future of BitMEX.
Hayes Makes an Appearance
Earlier this morning, Hayes posted an update on his Twitter, simply writing: “I traded in a yacht for the jungle. See y’all in September.” A number of wanted crypto enthusiasts have taken to hiding on yachts in international waters, so could Hayes have taken McAfee’s failure to hide as a good time to change up the game? Could Hayes be hiding from the CFTC in the jungle? We will have to wait until September to find out!
I traded in a yacht for the jungle. See y’all in September. pic.twitter.com/DsmQuPyCwa
— Arthur Hayes (@CryptoHayes) July 31, 2019
BitMEX looks like it could be in a significant amount of trouble, especially as Roubini and the CFTC allege that it’s been offering 100x leverage to unaccredited investors in the US. If the CFTC’s probe finds evidence that BitMEX has been breaking the law, then Hayes could be in a world of trouble and might even end up seeing the inside of a jail cell – no wonder he is hiding in the jungle!