By Blockchain News | Created at 2024-11-25 13:16:46 | Updated at 2024-11-25 15:22:17
2 hours ago
Darius Baruo Nov 25, 2024 13:01
BitMEX has confirmed the settlement of the P_GENSLERM26 contract at 100% following the resignation of SEC Chairman Gary Gensler, effective as of November 25, 2024.
BitMEX has officially settled the P_GENSLERM26 contract at 100%, as confirmed by the company's announcement on November 25, 2024. This settlement aligns with the terms of the P_GENSLERM26 Settlement Event, triggered by the resignation of Gary Gensler from his role as Chairman of the U.S. Securities and Exchange Commission (SEC).
Details of the Settlement
The settlement was executed at 12:00 UTC on the specified date, marking the completion of the contract's lifecycle. The P_GENSLERM26 contract was designed to payout at 100% upon the occurrence of a specific event, which in this case, was the resignation of Gensler from his SEC position.
Impact of SEC Chairman's Resignation
Gary Gensler's departure from the SEC has been a significant event in the regulatory landscape, influencing various market dynamics, including cryptocurrency regulations. His role as Chairman was marked by a focus on enforcing regulatory frameworks within the crypto space, which often sparked debates among industry stakeholders.
BitMEX's timely settlement of the contract reflects the exchange's commitment to aligning its offerings with real-world events impacting the financial markets. The exchange's users were informed of the settlement, with BitMEX providing support for any inquiries related to the contract.
For additional information, the official announcement can be accessed on the BitMEX blog.
Image source: Shutterstock
