ANOTHER CRYPTO EXCHANGE WAS SUED. I WONDER IF IT'S THEIR LAST TIME.

Frank Amato, one of the first investors in the famous cryptocurrency exchange Bitmex, sued BitMEX for $ 300 million, claiming it failed to buy $ 50 million worth of stock on the exchange. Frank Amato, a former JPMorgan user, testified that he put $ 50k on the stock market during the seed financing period in 2015, but never profited from his investments.

Cryptocurrency exchange does not provide equality
As Cryptocurrencies grew-cryptocurrency grew in exchange-based Seychelles. The stock market exceeded $ 1 trillion in annual trading volume at the end of June. Amato said his share in the company would now be worth $ 50 million but was never given equity. In his lawsuit, he says he was misled by the stock market. In addition to claiming $ 50 million in equity, amato is also seeking $ 250 million in punitive damages, bringing the total value of the case to $ 300 million. Bitmex is no stranger to legal problems. In June, the U.S. Commodity Futures Trading Commission (CFTC) had launched an investigation into the company.

Is the end of the Bitmex era coming?
Bloomberg estimates that BitMEX is currently worth $ 1 billion. In July 2018, The Times reported that the stock market was worth $ 3.6 billion, depending on its annual earnings. Described by Sid Shekhar of Tokenanalyst as " the largest casino ever,” BitMEX charges about $ 700k each day.

However, as reported by news sources, the share of trading volume on the stock market has been falling steadily throughout 2019, indicating a significant drop in valuation.