Hasu: BitMEX Insurance Fund's structural issues and legal risks make it difficult to sell and close

Flashbots' strategic director Hasu stated that the structural issues and legal risks of BitMEX Insurance Fund were the reasons why the company chose to close rather than sell. Hasu pointed out that the BitMEX insurance fund does not adopt segregated account management and lacks a size cap and excess asset handling mechanism, with an estimated size of approximately $270 million. Hasu stated that BitMEX has been unable to find a buyer since February 2025, and the asset ownership and legal issues brought by insurance funds have increased the difficulty of acquisition.