Trading giants BitMEX is involved in controversy as the expected downtime has made people think that it was all part of a plan. BitMEX published a tweet clarifying its stance and stating that the problems popped up  because of the chaotic trading activity on the evening of March 12. The company says that it was a hardware issue and cause of that the platform went off for 25 minutes.
<blockquote class="twitter-tweet">
1) Insane theory of the day: there was no BitMEX hardware issue.
— SBF (@SBF_Alameda) <a href="https://twitter.com/SBF_Alameda/status/1238306306043162625?ref_src=twsrc%5Etfw">March 13, 2020</a></blockquote>
The exchange saw the kind of liquidation not witnessed before and the aggregate volumes for Bitcoin were record-breaking too.

BitMEX is currently under the cosh and getting a whacking from the community, not just for the technical glitches. There are rumours swirling around which are suggesting that this was a full-blown conspiracy of the exchange to contribute to the BTC-USD’s humongous losses.

The CEO of research outfit Almeda and competitor exchange FTX has come out with a series of the tweet and said that there was no BitMEX issue in the first place.

Sam Bankman-Fried, holds the view that BitMEX’s not ready to address the twirling market condition triggered the fall of bitcoin further. As soon as BitMEX took a small hiatus, Bitcoin climbed up.
<blockquote>“BTC rallied without the gigantic cell wall of the BitMEX liq,” he spoked regarding the downfall, and even more than that--BTC rallied, so fewer people *had* to be liquidated.....  Creating a self-fulfilling prophecy. If we could BTC up above $5k, maybe then it would no longer *need* to go down.”</blockquote>
<h2>BitMEX Hits Back at Sam Bankman-Fried Saying he should be Knowing Better</h2>
BitMEX didn’t let it go unnoticed and hit back at him by saying that being someone who is involved in the industry and owns a platform, he should do better at understanding that these kinds of things can occur and also not fall for these baseless conspiracy theories.

Bankman-Fried later responded` and said that he “believes” BitMEX version of the story.

You May Also Read.
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 	<li><a href="https://www.cryptoknowmics.com/crypto/bitmex-head-warns-of-low-bitcoin-volumes-and-volatility-in-coming-days/">BitMEX Head Warns of Low Bitcoin Volumes and Volatility in Coming Days</a></li>
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BitMEX to Blame For Bitcoin Fiasco- Almeda CEO

The CEO of Almeda is supporting the conspiracy theory going around regarding BitMEX's contribution to the Bitcoin's blood bath.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

BitMEX to Blame For Bitcoin Fiasco- Almeda CEO

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