TechFlow news, according to an official announcement, BitMEX plans to reconfigure its Insurance Fund over the coming weeks by converting USDT and ETH balances into USD, which will then be deposited into custodial accounts held with its banking partners.
The fund reconfiguration is expected to take several weeks and will begin on September 28, 2023. During this period, users may notice on-chain fund movements originating from BitMEX, but there will be no impact on users' trading activities, positions, deposit or withdrawal frequencies.
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