Odaily reports: BitMEX co-founder Arthur Hayes said on the Convergence program on October 16 that OpenAI, Anthropic, and SpaceX are all unprofitable, and that AI model companies rely on debt financing, equity financing, and implicit support from the U.S. government.The Nasdaq 100 index fell 2.5%, and chip stocks declined for an eighth consecutive day, marking the longest losing streak since 2008. On October 17, Bitcoin's price was close to $81,400. A Bank of America analyst said the $1 trillion AI investment boom may follow a typical boom-and-bust cycle.Hayes believes that the bigger the AI bubble, the larger the subsequent bailout will be, and the higher Bitcoin's price will go. He also said Bitcoin can reflect wasted capital. He also criticized token issuance methods, saying that retail investors who bought at TGE and then suffered a 95% drop were the ones who got hurt. (Bitcoin.com News)

Odaily reports that Bitcoin News posted on X that Lewis Barber has filed a lawsuit in the London Commercial Court against BitMEX operator HDR Global Trading, claiming 324.8 BTC, worth approximately $27.2 million. The lawsuit concerns 1,053 losing perpetual contract trades between 2018 and 2022, arguing that HDR Global Trading was not authorized by the UK Financial Conduct Authority (FCA) to provide UK derivatives services, and therefore the related trades should not be enforceable. BitMEX said the lawsuit has been filed but has not yet been served; the exchange closed in September.

Odaily News: Former BitMEX investor Lewis Barber has filed a lawsuit with the UK High Court, seeking £20 million in damages, accusing BitMEX of offering cryptocurrency derivatives to UK investors without authorization from the UK Financial Conduct Authority (FCA). Barber claims that between 2018 and 2022, he traded derivatives offered by BitMEX and lost Bitcoin worth approximately £20 million. He is now demanding the return of the relevant Bitcoin or equivalent compensation.

Odaily reports that BitMEX has announced that following the cessation of operations at 04:00 UTC on September 23, customers in the United States, Canada, Hong Kong, Bermuda, Seychelles, and Myanmar are now permitted to log in, complete KYC, and withdraw their balances. Sanctioned regions remain restricted, and withdrawals are subject to compliance review; Iranian and Russian nationals abroad may apply by submitting proof of residence. BitMEX reminds users not to deposit funds any further, as remaining balances may incur account fees.

Odaily reports that BitMEX announced on X that the BitMEX exchange ceased operations today at 12:00 (UTC+8). User funds are safe, and login and withdrawal functions remain available. The platform strongly recommends that users withdraw their remaining funds as soon as possible. The platform has stopped accepting deposits, and users should no longer transfer assets to BitMEX addresses. Balances left on the platform will incur a monthly account fee, charged to KYC-verified users at the higher of an annualized 1% or the equivalent of $50. BitMEX previously announced in July that it would shut down the exchange.

Odaily reports: Bitcoin News posted on X platform that the Celsius bankruptcy estate filed a lawsuit on September 12 in the U.S. District Court for the Southern District of New York against BitMEX-affiliated entities, alleging improper liquidation in March 2020. The complaint states that the relevant Bitcoin includes 1,325.8385 BTC lost by Celsius on March 12, as well as 5,034.3281 BTC received the following day from the fund JST Alpha 1. BitMEX plans to cease exchange operations on September 23.

1. The Fed raised interest rates by 25 basis points for the first time in three years;2. Celsius sues BitMEX over 2020 liquidation event, seeks to recover 6,360 BTC;3. Trump says U.S. interest rates should fall below 1%, urges the Fed to cut rates quickly;4. The U.S. House Financial Services Committee passed the American Reserve Modernization Act;5. The U.S. House Ways and Means Committee passed the Digital Asset Tax Certainty Act by a vote of 38 to 5;6. Paradigm founder: The Zcash developer fund is very important, and pure coin-weighted voting may be detrimental to building long-term trust;7. Worth approximately $13.55 million, a certain WLFI multisig wallet transferred a cumulative 248 million WLFI to Binance over the past month;8. Losing approximately $890,000 in 3 hours, a certain whale was liquidated after shorting 8,120 ZEC with 10x leverage;9. Bonk Guy: Over the past month, USELESS whale inflows totaled approximately $12 million.

Odaily News — The administrator of Celsius Network's bankruptcy estate has sued five BitMEX-related entities over forced liquidations during the March 2020 market crash, seeking to recover 6,360 BTC, currently worth approximately $495 million.Celsius claims it lost 1,325.84 BTC in a liquidation on March 12, 2020, and is also pursuing related claims assigned by investment fund JST, which lost 5,034.33 BTC the following day. The lawsuit alleges that BitMEX manipulated the market and improperly liquidated customer collateral through its platform's liquidation mechanism. The allegations have not yet been proven in court. (CoinDesk)

Odaily News: The Celsius bankruptcy estate filed a lawsuit on September 12 with the United States Bankruptcy Court for the Southern District of New York, alleging that BitMEX operating entities engaged in fraud, market manipulation, and improper liquidation during the March 2020 Bitcoin crash, causing it to lose 6,360 BTC, worth approximately $495 million at the price at the time of filing. The defendants include HDR Global Trading, ABS Global Trading, Shine Effort, 100x Holdings, and HDR Global Services.

Odaily reports that BitMEX co-founder Arthur Hayes posted on X that the U.S. Clarity Act is detrimental to genuine innovation in the U.S. crypto industry and the development of products that meet market demand.He stated that Bitcoin has never needed the act since its inception in 2009, nor will it need it in the future; regulatory legislation should not become a precondition that restricts industry development and product innovation.