BitMEX Delays Spot Trading for BMEX Token
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Cryptocurrency exchange BitMEX has postponed spot trading for its native token bitmex token (BMEX), citing current market conditions. In a blog post, the exchange said it wants to list the token in an environment that gives the "best chance" to reward holders.

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BitMEX declined to provide more information about when it plans to list the token on spot exchange. The BitMEX team said:

"Bear markets are not easy; we have seen our share over the years and stayed strong, even with Bitcoin at much lower levels."

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BitMEX first announced plans for its native token in December 2021. The token's maximum supply is set at 450 million tokens and the issuance period will be up to 5 years. The exchange claims the vast majority of BMEX will be spent on rewarding users and developing the BitMEX ecosystem. A 20% allocation is reserved for BitMEX employees and another 25% for "long-term commitment to the token and ecosystem."

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