CZ悼念BitMex关闭：曾开创100倍永续合约

Sad to see BitMex go. Some thoughts:

BitMex pioneered 100x perps in crypto back in 2014. Delivery futures existed before then, making Fridays hectic.

BTC deposits only, one chain only, withdrawals only once per day, through a multi-sig wallet. The constraints that seemed inconvenient kept them unhacked.

All four founders pled guilty to BSA violations a month before trial, after 18 months of fighting it. $10m fine each, home confinement. No one went to prison.

However, their business didn’t survive the “war on crypto” from the Biden admin.

Lastly, wind down appears orderly, users can withdrawals their assets. Respect to @CryptoHayes 🫡