hdr global trading limited

Ten years ago today, the first block of the Bitcoin blockchain referenced the front page of The Times.” Text at the top of the right page stated “3 January 2019. 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. Cryptocurrency charts by TradingView. The lawsuit, captioned Williams, et al. 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. v. HDR Global Trading Limited, et al., is pending under docket number 1:20-cv-02805-ALC and seeks rescission and damages. Learn more about our Press Team and how to sign up to gain access to embargoed rulings. They said that they did not intend to republish the relevant material nor publish any ads in the UK which featured a similar logarithmic representation of the price of Bitcoin. We are setting out to change the status quo and reshape the modern digital financial system into one which is more inclusive, and empowering.". Click here for FAQs and to submit an enquiry. Sign up to our newsletters. Cryptocurrency charts by TradingView. BitMEX said that it did not seek to promote any products sold by its parent company HDR Global Trading and that the ad did not relate to capability or performance of any products offered by HDR Global Trading, nor did the ad constitute an offer of a financial product for the purposes of CAP Code rule 14.1. We considered that was a clear promotional statement of Bitcoin's merits and did very little to warn consumers of any risks. Website. 100x will become the holding structure for HDR and all their other assets, including the BitMEX platform. Cision Distribution 888-776-0942 BitMEX and the mobile apps issued under BMEX are wholly owned and operated by HDR Global Trading Limited, a Republic of Seychelles incorporated entity or its relevant authorised affiliates. The horizontal axis was divided and labelled into six month units showing dates between January 2009 and January 2019. BMA LLC v. HDR Global Trading Limited, 3:20-cv-03345 – CourtListener.com HDR operates, HDR Global Trading Limited, the operator of BitMEX, pledged to donate $2.5 million to four organizations to fight the coronavirus pandemic. Yet, in this digital age, financial services remain too slow and too complicated to transform. The ad showed a graph spread across two pages. The highest value recorded on the graph was of more than $10,000 between July 2017 and Jan 2018. 27. 2. The ad breached CAP Code (Edition 12) rules 3.1 and 3.3 (Misleading advertising), 3.11 (Exaggeration) and 14.1 (Financial products). But our ambitions don't stop there. They said that the graph did not exaggerate the benefits of a Bitcoin investment or conceal the risks associated with such an investment. 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… 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. 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. In that context we considered that readers were likely to interpret the line of the graph to mean that there had been a sharp then steady rise in bitcoin’s value in its early years up to its peak in November 2017 followed by a gentle decline in recent years. 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. 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. 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. All Rights Reserved. It has employees operating out of its Singapore office. The team behind BitMEX created the XBTUSD Perpetual Swap, which has become the most traded cryptocurrency product of all time. Throughout the Relevant Period, HDR has owned and operated the BitMEX trading platform. MAHE, Seychelles, Dec. 1, 2020 /PRNewswire/ -- 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX platform, has … 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. Get updates, handy hints, and insightful advice direct from the experts who write the advertising rules. And although the road ahead will be challenging, there's a reason to believe Bitcoin's still got a chance at glory". MAHE, Seychelles, July 14, 2020 /PRNewswire/ -- HDR Global Trading Limited ("HDR"), the company behind leading cryptocurrency derivatives trading platform, BitMEX, announces the … A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. 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. The Advertising Standards Authority Ltd. (trading as ASA), registered in England and Wales, Registered Number 0733214, The Advertising Standards Authority (Broadcast) Ltd. (trading as ASAB), registered in England and Wales, Registered Number 5130991, The Committee of Advertising Practice Ltd. (CAP), registered in England and Wales, Registered Number 8310744, The Broadcast Committee of Advertising Practice Ltd. (BCAP), registered in England and Wales, Registered Number 5126412, All companies listed are registered at: Castle House, 37-45 Paul Street, London, EC2A 4LS [, Online, catch-up TV and radio, in-app and in-game, Newspapers, magazines and printed materials, Guidance on advertising delayed payment services, Enforcement Notice - Advertising Tax Arrangement Schemes. A newspaper ad for the cryptocurrency trading platform BitMEX, seen on 3 January 2019. In practice this meant that the y-axis of the graph increased incrementally by the power of ten. BitMEX is a P2P crypto-products trading platform. For those reasons we considered that readers of the ad were likely to be misled about bitcoin’s value and stability in recent years and therefore about what any investments they might previously have made would have yielded. Alumni The Relationship Science Alumni Index highlights the achievements of influential company alumni. HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited, Shine Effort Inc Limited, and HDR Global Services (Bermuda) Limited (BitMEX) are some entities that operate with BitMEX owners and are defendants in the complaint. The graph depicted a su… With the knowledge, experience and resources of 100x, we have great confidence in our ability to make a positive and long-lasting impact on the development of the digital financial ecosystem of the future.". By January 2017, it had become, and remains, the largest cryptocurrency derivatives exchange in the world, with the highest trading volume of any such futures exchange. 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. In any case the full text stated "Despite price volatility and how entirely bonkers the system seems, the Bitcoin protocol appears robust. HDR Global Trading Limited was incorporated in the Seychelles in 2014 as a Seychelles International Business Company. Bitmex is one of the world’s largest cryptocurrency derivatives trading platforms and is owned and operated by HDR Global Trading Ltd, a Seychelles-incorporated entity. They said it was not possible to buy or sell Bitcoin on the BitMEX platform, or transfer physical or other currencies to HDR Global Trading in exchange for Bitcoin. Four complainants, who believed the ad exaggerated the return on the investment, challenged whether it was misleading. HDR Global Trading Limited, a.k.a. 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. 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. Helpful information on the advertising rules and examples of previously published ASA rulings based upon topics, issues and media channels. 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. 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. They said that the platform was a contracts-based exchange for the trading of derivatives. HDR Global Services (Bermuda) Limited. BitMEX allows users to ‘Trade Bitcoin and other cryptocurrencies with up to 100x leverage.’ The lawsuit alleged that HDR Global Trading Limited, the company that owns and operates BitMEX, violated know your customer and anti-money laundering policies, which caused hackers and tax evaders to use the exchange. They also said it stated "the road ahead will be challenging". 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. HDR Global Trading Limited, the company behind the cryptocurrency derivatives trading platform, BitMEX, has appointed Dr. David Wong, as Non-Executive Chairman. For example, after zero the scale went to 1, then 10, then 1000, up to 100,000, unlike an arithmetic scale which would increase by the same amount each time (100, 200, 300 etc.). 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. A newspaper ad for the cryptocurrency trading platform BitMEX, seen on 3 January 2019. The 100x Group is led by HDR's founders, Arthur Hayes, Ben Delo and Sam Reed. BitMEX said the remainder of the ad referenced the risk involved in any investment which referred to Bitcoin in Mr Hayes' article as "still very much an experiment" and mentioned "price volatility" as an issue affecting Bitcoin. from 8 AM - 9 PM ET, Copyright © 2020 PR Newswire Association LLC. They said that given the overall increase in Bitcoin's value over the past ten years, the logarithmic scale of the graph significantly understated the scale of the rise in its value which appeared as modest upward growth rather than the approximately 5,200,000% growth from 18 August 2010. 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. HDR GLOBAL LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity BitMEX is a P2P crypto-products trading platform. A lawsuit was filed on May 16, 2020, against HDR Global Trading Ltd, the parent company of the Hong … HDR Global Services Limited. The graph depicted a sudden rise in the value of Bitcoin after July 2010. 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. Our rulings are a transparent record of our policy on what is and isn’t acceptable in ads. They said the logarithmic scale was the only sensible way of depicting such a significant increase. 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. According to the Complaint, HDR Global Trading Limited launched in 2014. The firm offers contract services which are bought and paid out in Bitcoin. Blockchain News, Opinion, TV and Jobs – HDR Global Trading 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. Hoeptner will lead 100x Group as they pursue their vision of shaping the evolution of digital financial services through strategic investments, innovation, and enhancement of the BitMEX platform. BitMEX said the purpose of the graph was to inform, not to sell, that it was not intended to present detailed data for the purposes of financial analysis and the small scale would make it difficult for it to be used for that purpose. 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. Despite being incorporated in the Seychelles, HDR does not have, and never has had, any operations or employees in the Seychelles. HDR Global Trading Ltd. operates as a cryptocurrency derivatives trading platform. 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. The horizontal axis was divided and labelled into six month units showing dates between January 2009 and January 2019. HDR Global Trading Ltd. Hdr Global Trading Limited Suite 23, 1st Floor, Eden Plaza Vistra Corporate Services Centre Eden Island Mahe : Serial Number: 87856285: Filing Date: March 29, 2018: Status: Fourth Extension - Granted: Status Date: September 22, 2020 AS140632 HDR Global Trading Limited Network Information, IP Address Ranges and Whois Details Two complainants, who believed the ad failed to illustrate the risk of the investment, challenged whether it was misleading. Today the Group employs over 200 people globally including a team of world-leading developers, engineers, financial products specialists and compliance experts. The ad must not appear again in its current form. 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. AdviceOnline entries provide guidance on interpreting the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing. May 18, 2020 @ 11:04 pm By Omar Faridi | . HDR Global Trading Limited is incorporated in Seychelles, with its principal office located at Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles. HDR Global Trading Limited Securities Litigation. They said the graph was not intended to advertise either Bitcoin or any of BitMEX's products. 1. The vertical axis was labelled “Bitcoin Price In US Dollars” separated by decimal point value increments from $0.0001 to $100,000. This meant that the space at the top of the graph between 10,000 and 100,000 represented a change of $90,000 whereas the same space further down the graph represented only fractions of one dollar. 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