BitMEX shuts down after 11 years — the exchange that invented perpetual futures

BitMEX, one of the world's oldest cryptocurrency derivatives exchanges, has announced it is shutting down after 11 years of operation. The platform pioneered perpetual futures contracts and allowed users to trade bitcoin with up to 100x leverage. Its founders were penalised in the United States after the exchange went more than half its lifetime without verifying customer identities under KYC rules.

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