BitMEX hit the crypto press again, with the Hong Kong Economic Times, a local newspaper, reporting that the exchange had signed an agreement to rent the most expensive office space in the world.
BitMEX, founded by former Citigroup merchant Arthur Hayes reported that he rented the entire 45th floor of the Cheung Kong Center. This information is anonymously from people who are allegedly well informed about the company's plans.
While any piece of Hong Kong property is already expensive by itself, Cheung Kong Center, which is also home to Goldman Sachs, Barclays, Bank of America and Bloomberg, has one of the highest $ / Sq ratios. ft to the world.
In January, when Bloomberg interviewed Hayes, they discovered that the company's Hong Kong offices were located in a lesser-known warehouse district, where rent is HK $ 25 ($ 3.18) per foot square. But with the company's move to Cheung Kong, which ended up in one of Hong Kong's most opulent neighborhoods, BitMEX will have to pay a staggering HK $ 225 per square foot, an almost ten-fold increase over the rental requirements of their previous office. .  According to the Hong Kong Economic Times, the first outlet that gave this news, the 45th floor consists of 20,000 square feet, which means that the exchange will pay the equivalent of over $ 573,000 per month for rent.
Some legacies The cynics of the market see it as a sort of "power play", with the appearance of BitMEX in an office space that alludes to the fact that cryptography is here, and is here to stay long-range . Others see it as a strategic move, with such a move that it puts the exchange within reach of the most influential financial and technological companies in the world. But more importantly, this move shows that BitMEX has still collected large amounts of profits, even though the cryptography market has essentially fallen from a sharp cliff.
The increasing influence of BitMEX on the cryptic industry
As reported by Ethereum World News, the market grew after BitMEX announced it would be temporarily shut down to maintain its engine. While this announcement may seem trivial on the surface, Bitcoins have increased by almost $ 500 in the minutes following the start of BitMEX downtime. Closely following the market leader, Altcoins recorded similar gains in terms of percentage.
Even when BitMEX's downtime has ended, the market has held its gains (at least temporarily), with Bitcoin finding a seat at $ 6,700. While some have speculated that this attack of positive price action was just an untimely coincidence, many have noted that such a move could only be attributed to the planning of the world's largest Bitcoin exchange.
Fascinating awakening and seeing the effects of Bitmex downtime while I was sleeping. Like it or not, it is incredibly important for space $ crypto and has a great influence on the markets. Do not discredit it and ignore it.
– Emptybeerbottle (@Fullbeerbottle) August 22, 2018
Issue of a tweet about this event, Crypto commentator and "s *** poster" EmptyBeerBottle drew attention to the fact, this move indicates the great amount of influence that the exchange has on the market. As such, the cryptic personality noted that BitMEX should not be discredited, since the exchange has evidently become an integral part of this nascent industry and market.
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