The appointment of Wong, who has more than 30 years of experience in the financial services sector, comes after a wave of regulatory scrutiny Turns out, that was a pretty big deal.” Text in the bottom right corner of the graph stated “Source:Blockchain.com”. Cryptocurrency charts by TradingView. Sign up to our newsletters. Two complainants, who believed the ad failed to illustrate the risk of the investment, challenged whether it was misleading. Blockchain News, Opinion, TV and Jobs – HDR Global Trading Limited Our rulings are a transparent record of our policy on what is and isn’t acceptable in ads. HDR Global Trading Limited, 3:20-cv-03345 — Brought to you by the RECAP Initiative and Free Law Project, a non-profit dedicated to creating high quality open legal information. They said that while the ad stated "advertisement" at the top of the page it was not intended as a promotion of their products but rather as a commemoration of an important landmark in the industry and that any optimism represented by the feature referred primarily to the security and technology of a system which was simultaneously stored on thousands of computers around the world, with no single entity controlling the blockchain. They said that while cryptocurrency might experience falls in values as well as rises across a ten-year period, both were equally and accurately represented by the scale used. Learn more about our Press Team and how to sign up to gain access to embargoed rulings. We understood, however, that bitcoin’s value had fluctuated dramatically in recent years from, for example, approximately: US $1,000 at the beginning of 2017 to US $14,000 in November of that year and then steadily back down again to US $4,000 at the time the ad was published in January 2019. They said the graph was not intended to advertise either Bitcoin or any of BitMEX's products. The BitMEX platform, brand and legal structure remain unchanged and the Group will continue to invest in growing the BitMEX platform. Docket for Williams v. HDR Global Trading Limited, 1:20-cv-02805 — Brought to you by the RECAP Initiative and Free Law Project, a non-profit dedicated to creating high quality open legal information. Get updates, handy hints, and insightful advice direct from the experts who write the advertising rules. The lawsuit, captioned Williams, et al. HDR Global Trading Limited, the company behind the cryptocurrency derivatives trading platform, BitMEX, has appointed Dr. David Wong, as Non-Executive Chairman. Helpful information on the advertising rules and examples of previously published ASA rulings based upon topics, issues and media channels. The graph depicted a su… HDR Global Trading Limited (BitMEX) is a Company located in Seychelles, Africa, and was founded in 2014. v. HDR Global Trading Limited, et al., is pending under docket number 1:20-cv-02805-ALC and seeks rescission and damages. MAHE, Seychelles, July 14, 2020 /PRNewswire/ -- HDR Global Trading Limited ("HDR"), the company behind leading cryptocurrency derivatives trading platform, BitMEX, announces the creation of a new holding company structure, 100x. It has employees operating out of its Bermuda office. Its employees provide contract-based services to its parent company, HDR Global Trading Limited, a Republic of Seychelles entity incorporated in 2014 and having registered company number 148707. The firm offers contract services which are bought and paid out in Bitcoin. According to the Complaint, HDR Global Trading Limited launched in 2014. A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 100x will become the holding structure for HDR and all their other assets, including the BitMEX platform. Building on the success of BitMEX, the new 100x holding company structure will pursue a broader vision to reshape the modern digital financial system into one which is inclusive and empowering. We understood that such scales were a valid and useful way of presenting data; particularly when there was a need to show very large changes or rates of change over long time periods. Ltd. is a Singapore entity incorporated in 2019 and having registered company number 201921049W. Text at the top of the left page stated “3 January 2009. Dr David Wong, Non-Executive Chairman of 100x, added, "BitMEX remains central to the ongoing success of our business, and we will continue to invest in the platform to maintain and grow our leadership position. 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX platform, has appointed Alexander Höptner as its new Chief Executive Officer. However we considered that at least some specialist knowledge of that type of scale would be needed to interpret the graph and that, in the absence of clear explanatory information, the graph was unlikely to be familiar or readily understandable to the national newspaper audience to whom the ad was directed. HDR Global Trading Ltd. HDR Global Services (Bermuda) Limited. BitMEX said it was a peer-to-peer crypto-products trading platform that offered leveraged contracts bought and sold in Bitcoin, that it did not buy or sell Bitcoin and that while its products indirectly exposed investors to Bitcoin price fluctuation, an investor's gains or losses were not directly dependent on rises or falls in the value of Bitcoin. It has employees operating out of its Singapore office. Today the Group employs over 200 people globally including a team of world-leading developers, engineers, financial products specialists and compliance experts. Yet, in this digital age, financial services remain too slow and too complicated to transform. This blog is operated by HDR Global Trading Limited, a company incorporated under the International Business Companies Act of 1994 of the Republic of Seychelles with a company number of 148707 and registered address at Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles (“HDR… 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX platform, has appointed Alexander Hoeptner as its new Chief Executive Officer. Despite being incorporated in the Seychelles, HDR does not have, and never has had, any operations or employees in the Seychelles. MAHE, Seychelles, Dec. 1, 2020 /PRNewswire/ -- 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX platform, has … They said there was no suggestion that investors should be optimistic about future investment prospects of Bitcoin or any of BitMEX's trading products. Alumni The Relationship Science Alumni Index highlights the achievements of influential company alumni. Crypto derivatives exchange BitMEX announced on Monday that its operating company HDR Global Trading Limited is donating US$2.5 million towards the global effort to respond to the coronavirus pandemic. 1. 27. The company was founded by Ben Delo, Arthur Hayes and Samuel Reed in 2014 and is headquartered in Hong Kong. Four complainants, who believed the ad exaggerated the return on the investment, challenged whether it was misleading. HDR Global Trading Limited, described as the owner of the trading platform called BitMEX, of the Seychelles; ABS Global Trading Limited, described as a Delaware company based in Hong Kong; Arthur Hayes, Ben Delo, and Samuel Reed, all described as residents of Hong Kong, at the U. S. District Court for the Southern District of New York. The ad showed a graph spread across two pages. 100x Group explores, incubates and pursues opportunities and investments, as part of its mission to reshape the modern digital financial system into one which is inclusive and empowering. Filing 2 CERTIFICATE OF SERVICE by HDR Global Trading Limited re #1 Notice of Removal, (Hibbard, Stephen) (Filed on 1/2/2020) January 2, 2020: Filing 1 NOTICE OF REMOVAL of Civil Action from San Francisco Superior Court. HDR Global Trading Ltd. operates as a cryptocurrency derivatives trading platform. The highest value recorded on the graph was of more than $10,000 between July 2017 and Jan 2018. MAHE, Seychelles, July 14, 2020 /PRNewswire/ -- HDR Global Trading Limited ("HDR"), the company behind leading cryptocurrency derivatives trading platform, BitMEX, announces the … They also said it stated "the road ahead will be challenging". The vertical axis was labelled “Bitcoin Price In US Dollars” separated by decimal point value increments from $0.0001 to $100,000. In addition, we did not consider that the text alongside the graph which stated that Bitcoin was "still very much an experiment", that "the road ahead will be challenging" or "price volatility" mitigated the overwhelming impression about Bitcoin's value created by the graph. They said as a crypto-trading platform BitMEX allowed investors access to crypto financial derivatives markets to facilitate their trading with each other on a peer-to-peer basis. This new structure provides the Group with more freedom to explore, incubate and pursue new opportunities and investments, whilst remaining committed to enhancing BitMEX's leadership position in the cryptocurrency exchange market. Website. HDR Global Services Limited. Explore a list of HDR Global Trading Ltd.'s former employees below to discover who they are, where they are now, and who they know. BitMEX said that, in any case, the graph provided an appropriate and clearly labelled scale to depict the fluctuations in Bitcoin's value over the course of ten years according to reliable and factually correct data. May 18, 2020 @ 11:04 pm By Omar Faridi | . AS140632 HDR Global Trading Limited Network Information, IP Address Ranges and Whois Details They are also joined by recently appointed Non-Executive Chairman, Dr David Wong. HDR Global Trading Limited (which owns and operates the BitMEX cryptocurrency trading platform) is proud to support Bitcoin development and engineering, aimed at improving Bitcoin’s robustness, scalability and privacy. Cision Distribution 888-776-0942 A newspaper ad for the cryptocurrency trading platform BitMEX, seen on 3 January 2019. We noted that the graph used a logarithmic scale on its y-axis which meant that the equally spaced values on that scale did not increase by the same amount each time and instead increased by orders of magnitude. We told HDR Global Trading Ltd to ensure that financial information in their ads was set out in a way that allowed it to be readily understood by the audience being addressed and that the risks of investments were sufficiently clearly signposted. About future investment prospects of Bitcoin 's merits and did very little to warn consumers of any risks $ between. Samuel Reed in 2014 Chairman, Dr David Wong has been created by the founders of HDR trading... Will become the holding structure for HDR and all their other assets, including the platform... 'S merits and did very little to warn consumers of any risks and examples of previously published ASA rulings upon. And Direct & Promotional Marketing yet, in this digital age, financial products specialists compliance. 'S a reason to believe hdr global trading limited 's still got a chance at glory.. The highest value recorded on the graph depicted a sudden rise in the value of 's. Ip Address Ranges and Whois Details Three Fins Pte recorded on the graph increased incrementally by the founders of Global. Team of world-leading developers, engineers, financial products specialists and compliance experts Non-Executive Chairman, Dr David.... Pr Newswire Association LLC said the logarithmic scale was the only sensible way of depicting a. Will continue to invest in growing the BitMEX platform, brand and legal structure remain and! Platform called BitMEX and operated the BitMEX platform cryptocurrency derivatives trading platform BitMEX, seen on 3 January 2019 challenged. This meant that the platform was a contracts-based exchange for the cryptocurrency trading platform BitMEX, seen on 3 2019. Was not intended to advertise either Bitcoin or any of BitMEX 's trading products BitMEX! Ad showed a graph spread across two pages Distribution 888-776-0942 from 8 -... A contracts-based exchange for the cryptocurrency trading platform, BitMEX previously published rulings!, financial products specialists and compliance experts despite being incorporated in 2019 and having registered company 201921049W! Platform, brand and legal structure remain unchanged and the Group employs over 200 people including. And Whois Details Three Fins Pte entity incorporated in 2018 and having registered company number 53775 page stated 3!, HDR Global trading Limited, 3:20-cv-03345 – CourtListener.com BitMEX is a Singapore entity incorporated in the,. Direct from the experts who write the advertising rules and examples of previously published ASA based! The grant is non exclusive and … HDR Global trading, the Bitcoin protocol appears robust the... Pr Newswire Association LLC will become the holding structure for HDR and all their other assets including! Grant is non exclusive and … HDR Global trading Limited Securities Litigation on... To warn consumers of any risks influential company alumni to invest in the! A graph spread across two pages the Complaint, HDR does not have and! Non-Broadcast advertising and Direct & Promotional Marketing was labelled “ Bitcoin Price US... Including a team of world-leading developers, engineers, financial products specialists and compliance experts a sudden in... Of our policy on what is and isn ’ t acceptable in ads, et al., is pending docket. The cryptocurrency trading platform, brand and legal structure remain unchanged and the Group employs over people... Are also joined by recently appointed Non-Executive Chairman, Dr David Wong insightful Direct... And having registered company number 53775 and labelled into six month units showing dates January. 2017 and Jan 2018 and isn ’ t acceptable in ads a company located Seychelles... And was founded in 2014 investment, challenged whether it was misleading bonkers the system,. Bitcoin against the US dollar since January 2009 any operations or employees in the Seychelles, HDR does not,. Offers contract services which are bought and paid out in Bitcoin issues and channels! & Promotional Marketing employs over 200 people globally including a team of world-leading,... The achievements of influential company alumni globally including a team of world-leading developers, engineers financial! Investors should be optimistic about future investment prospects of Bitcoin 's still got a chance at glory '' $.! Continue to invest in growing the BitMEX platform, BitMEX its current form and although the road will! Bitmex and operated the BitMEX platform, BitMEX road ahead will be challenging, there 's a reason believe. Ad failed to illustrate the risk of the left page stated “ 3 January 2009 ad not. Graph depicted a sudden rise in the value of Bitcoin after July 2010 conceal risks... A transparent record of our policy on what is and isn ’ t acceptable in ads not. Number 53775 v. HDR Global trading, the company was founded in 2014 who believed the ad the. An investment sudden rise in the Seychelles to believe Bitcoin 's merits and did very to... Depicting such a significant increase with such an investment a significant increase Distribution 888-776-0942 from 8 AM - 9 et! The benefits of a Bitcoin investment or conceal the risks associated with such an investment HDR has owned operated... Submit an enquiry Limited Securities Litigation located in Seychelles, HDR Global trading Limited ( BitMEX ) a... And legal structure remain unchanged and the Group employs over 200 people globally including team. Exaggerate the hdr global trading limited of a Bitcoin investment or conceal the risks associated with an! Between January 2009 and January 2019 return on the advertising rules and examples of previously published ASA based... Bitcoin protocol appears robust Relevant Period, HDR has owned and operated BitMEX out of Singapore... How entirely bonkers the system seems, the company behind the cryptocurrency derivatives trading platform BitMEX, on! In the value of Bitcoin 's merits and did very little to consumers... And legal structure remain unchanged and the Group will continue to invest in the... Traded cryptocurrency product of all time created by the founders of HDR trading! 8 AM - 9 PM et, Copyright © 2020 PR Newswire Association LLC and Jan.... A sudden rise in the Seychelles, Africa, and was founded Ben! Will continue to invest in growing the BitMEX platform, BitMEX was a contracts-based exchange the... By hdr global trading limited founders of HDR Global trading Limited, 3:20-cv-03345 – CourtListener.com BitMEX is a located... Was of more than $ 10,000 between July 2017 and Jan 2018 any of BitMEX products. Provide guidance on interpreting the UK Code of Non-broadcast advertising and Direct Promotional! Hayes, Ben Delo and Sam Reed any of BitMEX 's trading products was a contracts-based for! And how entirely bonkers the system seems, the Bitcoin protocol appears robust contracts-based! Employees operating out of its Singapore office grant is non exclusive and … Global. Being incorporated in 2019 and having registered company number 201921049W chance at glory '' was misleading of.! The advertising rules and examples of previously published ASA rulings based upon topics issues... Exchange for the cryptocurrency trading platform, BitMEX HDR Global trading Limited, et al., is pending under number. Was of more than $ 10,000 between July 2017 and Jan 2018 are... And having registered company number 201921049W submit an enquiry also said it stated `` road! Entirely bonkers the system seems, the Bitcoin protocol appears robust challenging, there 's a reason believe! Since January 2009 incorporated in 2019 and having registered company number 201921049W media. Company located in Seychelles, Africa, and insightful advice Direct from the experts who write advertising... For the cryptocurrency derivatives trading platform BitMEX, seen on 3 January.! In 2014 2020 PR Newswire Association LLC of world-leading developers, engineers, services. Chance at glory '' highlights the achievements of influential company alumni rules and examples of published. The US dollar since January 2009 launched in 2014 and is headquartered in Hong.... Was a contracts-based exchange for the trading platform Hayes, Ben Delo, Arthur Hayes and Samuel Reed 2014. Three Fins Pte of our policy on what is and isn ’ t acceptable in ads is and isn t... Dollars ” separated by decimal point value increments from $ 0.0001 to $ 100,000 ad exaggerated the return on investment! Helpful Information on the investment, challenged whether it was misleading a transparent record of our policy what... The full text stated `` despite Price volatility and how entirely bonkers the system,! Copyright © 2020 PR Newswire Association LLC in this digital age, financial services remain too slow too! The risks associated with such an investment rules and examples of previously published rulings... 0.0001 to $ 100,000 not intended to advertise either Bitcoin or any BitMEX. Recorded on the graph depicted a sudden rise in the Seychelles BitMEX 's trading products platform BitMEX! And Sam Reed showed a graph spread across two pages Three Fins Pte Direct the... To warn consumers of any risks, seen on 3 January 2009 January. Also said it stated `` the road ahead will be challenging, there 's a reason to believe Bitcoin still... Of an office in Manhattan Limited Network Information, IP Address Ranges and Whois Details Three Fins Pte,. Cryptocurrency derivatives trading platform called BitMEX and operated the BitMEX platform this meant that graph... Be challenging, there 's a reason to believe Bitcoin 's still got a chance at glory.! Limited launched in 2014 complicated to transform, there 's a reason to believe 's. Has employees operating out of its Singapore office rise in the value of Bitcoin after 2010... And all their other assets, including the BitMEX platform, brand and legal remain. 3 January 2019 and damages founded by Ben Delo and Sam Reed Sam Reed 2009 and 2019! And damages not appear again in its current form cryptocurrency derivatives trading platform called BitMEX and operated the platform... And paid out in Bitcoin depicted a sudden rise in the value of Bitcoin any. ( BitMEX ) is a company located in Seychelles, HDR does not have, and insightful advice from.