BitMEX Marks 10 Years as the Longest-Standing Crypto Exchange with 0 Coins Lost

[PRESS RELEASE – Mahe, Seychelles, November 20th, 2024]

BitMEX Marks 10 Years of Crypto Derivatives Buying and selling with a Robust Safety Monitor File

BitMEX, one of many longest-standing crypto derivatives alternate, is marking a serious milestone: 10 years of enterprise operations with an unmatched file of zero buyer fund losses from intrusions or hacks, whereas sustaining its give attention to skilled crypto derivatives buying and selling.

Based in 2014, BitMEX stands as one of many longest-standing crypto exchanges to constantly work to set {industry} requirements in safety, transparency, neutrality, accessibility, and consumer empowerment. The corporate has established itself as a platform for skilled merchants, constructed on a legacy of strong safety and product optimisation grounded in with a give attention to enabling trustless crypto derivatives markets. One of many platform’s largest achievements stays its unblemished safety file so far – with zero buyer funds misplaced, a feat unmatched by any main alternate of our tenure. Moreover, the platform’s perpetual swap, now essentially the most traded spinoff construction in crypto, launched vital adjustments to the buying and selling panorama, whereas BitMEX’s 100% KYC’ed consumer base and biweekly Proof of Reserves and Liabilities publication set new benchmarks for transparency and legitimacy.

BitMEX’s give attention to professional-grade crypto derivatives buying and selling has formed its distinctive strategy. Its unwavering dedication to consumer fund safety and neutrality have allowed it to navigate {industry} challenges whereas sustaining its fame as a dependable, industry-first platform.

BitMEX’s 10-year Formulation for Success

BitMEX’s journey to a decade has not been with out challenges – from navigating authorized pressures to adapting to the dynamic nature of the crypto market. But, as Co-Founder Samuel Reed mentioned in an article in 2018, “The primary rule of operating a crypto alternate is, and at all times has been, ‘Don’t lose the Bitcoin’”. This steadfast precept has guided BitMEX via market evolution, with safety, transparency, and neutrality as its foundational values. By means of a strategic dedication to those values, the corporate has grown and thrived, standing agency amid {industry} turbulence and sustaining its place within the international crypto alternate panorama.

Stephan Lutz, CEO of BitMEX provides, “BitMEX isn’t making an attempt to grow to be a be-all, end-all DLT participant, however one which focuses on sensible iterations for derivatives merchants. The ideas of safety, transparency, reliability, and technical efficiency have pushed all the pieces we do – which have solely been validated by the {industry}’s vital challenges such because the FTX and TERRA/LUNA failures. Whereas we’re targeted on being the most effective at what we do – crypto derivatives buying and selling – our strategy performs a key position in shaping the {industry}. We’re honoured to rejoice a decade with our merchants, whose belief has been elementary to our progress.”

10 Milestones for 10 Years: Highlights of BitMEX’s Legacy 

• 2014 – Launched a number of industry-first improvements, together with providing the primary correctly margined centrally cleared crypto derivatives, the primary crypto public testnet alternate, the primary crypto single web page app, and the primary chilly storage-only alternate.
• 2015 – First 50x leverage each day XBT futures: Introducing leverage for merchants.
• 2016 – Creation of the perpetual swap, a core crypto spinoff product.
• 2016 – Largest crypto insurance coverage fund: ~$2.3 billion and rising.
• 2017 – BitMEX Analysis established: A hub for trusted {industry} insights.
• 2019 – File BTC buying and selling quantity: $16 billion in 24 hours.
• 2020 – 100% KYC’ed consumer base achieved: First crypto alternate to take action.
• 2021 – Proof of Reserves and Liabilities revealed: Advancing transparency in crypto.
• 2023 – 95% latency discount with enhanced buying and selling engine.
• 2024 – Launch of BitMEX Choices: Increasing the derivatives suite.

What’s Subsequent for BitMEX?

As BitMEX strikes to the subsequent decade, its roadmap will give attention to deepening consumer engagement and elevating buying and selling alternatives. BitMEX plans to introduce Multi-Asset Margining for enhanced capital effectivity and give attention to boosting liquidity to help seamless, high-volume buying and selling in risky markets. Constructing on the success of its Trading Bots, BitMEX will even introduce copy buying and selling, enabling customers to duplicate profitable buying and selling methods.

To kick off these ambitions, BitMEX will launch its largest buying and selling competitors so far on November 25, that includes a $1 million prize pool designed to interact new and current customers as they embark on the subsequent chapter of their journey. Customers can be a part of the subsequent decade of crypto innovation now.

About BitMEX

BitMEX is the OG crypto derivatives alternate, offering skilled crypto merchants with a platform that caters to their wants with low latency, deep crypto native and particularly BTC liquidity and unmatched reliability.

Since their founding, no cryptocurrency has been misplaced via intrusion or hacking, permitting BitMEX customers to commerce within the information that their funds are safe. So too that they’ve entry to the merchandise and instruments to help their buying and selling success.

BitMEX was additionally one of many first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities information. The alternate continues to publish this information twice every week – demonstrating its dedication to securely storing and segregating entrusted funds.

For extra info on BitMEX, customers can go to the BitMEX Blog or www.bitmex.com, and comply with Discord, Telegram and Twitter. For additional inquiries, customers might contact [email protected].