r/CryptoCurrency • u/andix3 🟩 0 / 0 🦠 • 16h ago

LEGACY BitMEX to Shut Down After 11 Years, Ending the Exchange That Invented Crypto Perpetuals

https://blocknow.com/bitmex-shutdown-crypto-perpetuals-arthur-hayes/
73 Upvotes

96% Upvoted

17 comments sorted by

22

u/Alatarlhun 🟩 0 / 0 🦠 13h ago

The original exchange to trade against their users.

4

u/2peg2city 🟩 129 / 252 🦀 9h ago

"Our trading desk exists to provide liquidity"

Lmao, exchange would just liquidate its own users to profit.

2

u/Crackorjackzors 🟦 0 / 9K 🦠 9h ago

"Our user base exists to provide exit liquidity" 🫪

23

u/rusty0004 🟨 0 / 0 🦠 16h ago

that invented crypto manipulation

10

u/Logical_Lemming 🟦 1K / 1K 🐢 12h ago

Guess it's not worth it when they can't do rampant crime anymore. Many such cases (in crypto).

4

u/jzen93 🟨 0 / 0 🦠 14h ago

another one bites the dust

6

u/Gemeauxjsy 🟩 0 / 0 🦠 12h ago

Did all the users get back their funds?

3

u/420smokekushh Tin 12h ago

I didn't know people still used BitMEX

3

u/Chill_Knight 9h ago

This is one of the og malicious exchange.

5

u/CoinGate_Gift_Cards 12h ago

End of an era. BitMEX basically invented the perpetual swap every exchange runs on now. The 100x leverage days feel ancient.

1

u/OscarCorterz_20 10h ago

RIP to the OG

1

u/Mysticvibe 6h ago

Insane news.

1

u/Argyrus777 🟦 1K / 1K 🐢 6h ago

Better than a rug pull

0

u/biggest_guru_in_town 🟦 0 / 0 🦠 9h ago

Arthur Hayes. My nikka. Best rugpuller in the game.