Hong Kong media reports that the crypto trading platform BitMEX, founded by trader Arthur Hayes, is now renting offices in the world’s priciest business center- Cheung Kong Center.
Such companies as Goldman Sachs, Barclays Plc, Bloomberg LP, etc, rent offices there as well, the price for a square foot there is HK$225 (almost $30) compared to just $3.18 that BitMEX used to pay for its previous premises.
In spite of the market going down since January, crypto companies, even though their profits are shrinking, are doing their best to become mainstream. Renting luxurious offices, when investors are going through pains of the red market, may show that even despite market volatility, crypto exchanges still prosper, unlike their customers.
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Godfrey Benjamin
Dan Burgin
Vladislav Sopov