[Flashbots Strategy Lead: BitMEX Insurance Fund Mechanism May Be a Key Reason for Its Eventual Shutdown] Odaily Planet Daily News – Flashbots Strategy Lead Hasu posted on the X platform, stating that structural issues with the BitMEX insurance fund could be a significant reason why the company ultimately opted for closure rather than a sale. Hasu noted that as early as 2018, he had pointed out that the BitMEX insurance fund did not adopt segregated account management, lacked a clear cap on the fund size, and had no defined method for handling excess assets. This could incentivize more aggressive liquidation of users, expanding the insurance fund through liquidations, and eventually monetizing these assets. According to Hasu's estimates, the insurance fund currently stands at approximately $270 million. Hasu mentioned that BitMEX has been seeking potential buyers at least since February 2025 but has been unable to reach a deal acceptable to them. He speculated that issues related to the ownership and legal status of the assets in the insurance fund may have increased the difficulty for potential acquirers to take over BitMEX. He believes this mechanism could ultimately be one of the reasons why BitMEX is challenging to sell.