{"id":22075,"date":"2024-11-20T15:31:45","date_gmt":"2024-11-20T15:31:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=22075"},"modified":"2024-11-20T15:31:45","modified_gmt":"2024-11-20T15:31:45","slug":"bitmex-marks-10-years-as-the-longest-standing-crypto-exchange-with-0-coins-lost","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=22075","title":{"rendered":"BitMEX Marks 10 Years as the Longest-Standing Crypto Exchange with 0 Coins Lost"},"content":{"rendered":"

[PRESS RELEASE \u2013 Mahe, Seychelles, November 20th, 2024]<\/strong><\/p>\n

BitMEX Marks 10 Years of Crypto Derivatives Trading with a Strong Security Track Record<\/em><\/p>\n

BitMEX<\/a>, one of the longest-standing crypto derivatives exchange, is marking a major milestone: 10 years of\u00a0business operations with an unmatched record of zero customer fund losses from intrusions or hacks, while maintaining its focus on professional crypto derivatives trading.<\/p>\n

Founded in 2014, BitMEX stands as one of the longest-standing crypto exchanges to consistently work to set industry standards in security, transparency, neutrality, accessibility, and user empowerment. The company has established itself as a platform for professional traders, built on a legacy of robust security and product optimisation grounded in with a focus on enabling trustless crypto derivatives markets. One of the platform\u2019s biggest achievements remains its unblemished security record to date \u2013 with zero customer funds lost, a feat unmatched by any major exchange of our tenure. Furthermore, the platform\u2019s perpetual swap, now the most traded derivative structure in crypto, introduced significant changes to the trading landscape, while BitMEX\u2019s 100% KYC\u2019ed user base and biweekly Proof of Reserves and Liabilities publication set new benchmarks for transparency and legitimacy.<\/p>\n

BitMEX\u2019s focus on professional-grade crypto derivatives trading has shaped its unique approach. Its unwavering commitment to user fund security and neutrality have allowed it to navigate industry challenges while maintaining its reputation as a reliable, industry-first platform.<\/p>\n

BitMEX\u2019s 10-year Formula for Success<\/strong><\/p>\n

BitMEX\u2019s journey to a decade has not been without challenges \u2013 from navigating legal pressures to adapting to the dynamic nature of the crypto market. Yet, as Co-Founder Samuel Reed mentioned in an article in 2018<\/a>, \u201cThe first rule of running a crypto exchange is, and always has been, \u2018Don\u2019t lose the Bitcoin\u2019\u201d. This steadfast principle has guided BitMEX through market evolution, with security, transparency, and neutrality as its foundational values. Through a strategic commitment to these values, the company has grown and thrived, standing firm amid industry turbulence and maintaining its position in the global crypto exchange landscape.<\/p>\n

Stephan Lutz, CEO of BitMEX adds<\/strong>, \u201cBitMEX isn\u2019t trying to become a be-all, end-all DLT player, but one that focuses on practical iterations for derivatives traders. The principles of security, transparency, reliability, and technical performance have driven everything we do \u2013 which have only been validated by the industry\u2019s significant challenges such as the FTX and TERRA\/LUNA failures. While we\u2019re focused on being the best at what we do \u2013 crypto derivatives trading \u2013 our approach plays a key role in shaping the industry. We\u2019re honoured to celebrate a decade with our traders, whose trust has been fundamental to our growth.\u201d<\/p>\n

10 Milestones for 10 Years: Highlights of BitMEX\u2019s Legacy\u00a0<\/strong><\/p>\n

2014 \u2013 Introduced several industry-first innovations, including offering the first properly margined centrally cleared crypto derivatives, the first crypto public testnet exchange, the first crypto single page app, and the first cold storage-only exchange.
\n2015 \u2013 First 50x leverage daily XBT futures: Introducing leverage for traders.
\n2016 \u2013 Creation of the perpetual swap, a core crypto derivative product.
\n2016 \u2013 Largest crypto insurance fund: ~$2.3 billion and growing.
\n2017 \u2013 BitMEX Research established: A hub for trusted industry insights.
\n2019 \u2013 Record BTC trading volume: $16 billion in 24 hours.
\n2020 \u2013 100% KYC\u2019ed user base achieved: First crypto exchange to do so.
\n2021 \u2013 Proof of Reserves and Liabilities published: Advancing transparency in crypto.
\n2023 \u2013 95% latency reduction with enhanced trading engine.
\n2024 \u2013 Launch of BitMEX Options: Expanding the derivatives suite.<\/p>\n

What\u2019s Next for BitMEX?<\/strong><\/p>\n

As BitMEX moves to the next decade, its roadmap will focus on deepening user engagement and elevating trading opportunities. BitMEX plans to introduce Multi-Asset Margining for enhanced capital efficiency and focus on boosting liquidity to support seamless, high-volume trading in volatile markets. Building on the success of its Trading Bots<\/a>, BitMEX will also introduce copy trading, enabling users to replicate successful trading strategies.<\/p>\n

To kick off these ambitions, BitMEX will launch its largest trading competition to date on November 25, featuring a $1 million prize pool designed to engage new and existing users as they embark on the next chapter of their journey. Users can join the next decade of crypto innovation now<\/a>.<\/p>\n

About BitMEX<\/strong><\/p>\n

BitMEX<\/a> is the OG crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep crypto native and especially BTC liquidity and unmatched reliability.<\/p>\n

Since their founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade in the knowledge that their funds are secure. So too that they have access to the products and tools to support their trading success.<\/p>\n

BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week \u2013 demonstrating its commitment to securely storing and segregating entrusted funds.<\/p>\n

For more information on BitMEX, users can visit the BitMEX Blog<\/a> or www.bitmex.com<\/a>, and follow Discord<\/a>, Telegram<\/a> and Twitte<\/a>r. For further inquiries, users may contact press@bitmex.com<\/a>.<\/p>\n

The post BitMEX Marks 10 Years as the Longest-Standing Crypto Exchange with 0 Coins Lost<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Mahe, Seychelles, November 20th, 2024] BitMEX Marks 10 Years of Crypto Derivatives Trading with a Strong Security Track Record BitMEX, one of the longest-standing crypto derivatives exchange, is marking a major milestone: 10 years of\u00a0business operations with an unmatched record of zero customer fund losses from intrusions or hacks, while maintaining its […]<\/p>\n","protected":false},"author":0,"featured_media":22076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22075"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22075"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22076"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}