CEO Stephan Lutz on BitMEX Resilience During the October Crypto Crash

The same rigor applies to BitMEX’s Insurance Fund. During the crash, the fund absorbed about $2 million in losses while maintaining full solvency. As the company noted in its report, the fund “is never staked, lent, or rehypothecated.” Lutz described it as a rules-based mechanism that functions automatically, removing human discretion and protecting user funds even during periods of market stress.Lutz added that collateral on BitMEX must be held directly on the platform, not in external accounts or wrapped ...