Bitmex insurance fund tags ath binance and deribit inject millions

The March 13 crypto market meltdown ravaged cryptocurrency companies across the industry, sparking a MakerDAO debt crisis and causing millions to be deployed from the insurance funds of exchanges Binance and Deribit.

In spite of the widespread carnage, the insurance fund of leading derivatives exchange, BitMex, only took two days to break back into new all-time highs. Despite going offline for 45 minutes due to a “hardware issue” late March 13, BitMex appears to have emerged from the recent cryptocurrency market massacre stronger than ever.

The crash saw BitMex only deployed 1,627 to deleverage positions during the downturn, slimming the exchange’s insurance fund from roughly 35,500 Bitcoins (BTC) on March 11 to 33,880 approximately 24 hours later.

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