CoinGecko has BitMEX at roughly 12.5k BTC in open interest and 3.3k BTC of 24h derivatives volume, a long way from the venue that made perps crypto’s default casino primitive. Putting the GC/COO in the CEO chair during a reported buyer search looks like sale-room cleanup: cut burn, make the BSA baggage legible, and sell the brand without asking a buyer to underwrite the old growth machine.

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