BitMEX, the exchange that invented perps, is shutting down

60-second summary

BitMEX is shutting down, marking the end of an era in the crypto market, where it redefined global trading with the introduction of 100x leverage perpetual swaps in 2014, revolutionizing the way traders engage with cryptocurrencies, and now its closure will likely impact the market dynamics, potentially shifting trading volumes to other exchanges and affecting the overall market liquidity.