Over the next few weeks, we will perform a reallocation of our Insurance Fund allocations, with Tether and ETH balances to be exchanged for USD, which will then be held in custody accounts with our banking partners.
You can find the exact amounts held in the Insurance Fund here. They are published daily and are verifiable for crypto holdings on our Proof of Reserves and Liabilities.
No changes have been made to the mechanics of allocation or drawdown of funds from the Insurance Fund. All maintenance margin and liquidation price calculations remain as is. The rebalancing will have no impact on any users’ trading activities, positions, deposit or withdrawal frequencies.
The reallocation of funds is expected to take several weeks, and will begin on 28 September 2023. Within this period, users may notice substantive fund movements on-chain originating from BitMEX.
If you would like to know more about how the Insurance Fund operates you can read more either here and/or here.
In the meantime, if you have any questions about this please contact Support who are available 24/7.
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