Total collapse! BitMEX will shut down and its native token falls by more than 90%
To understand what’s happening with BitMEX and the collapse of its corporate token (BMEX), you need to split it into two parts: what the platform is, and what caused this abrupt shutdown. 1. What is BitMEX? Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX (Bitcoin Mercantile Exchange) is one of the most legendary and historic cryptocurrency exchange platforms in the ecosystem. Its importance lies in the fact that they invented perpetual contracts (Perpetual Swaps) and popularized leveraged trading of up to 100x in the crypto world. They practically defined the foundations of how the derivatives and futures intermediations market works—something that platforms like Binance or Bybit use today.
⚠️ URGENT! The $BMEX token has plunged by more than 90% 📉
The exchange BitMEX has officially announced the complete shutdown of its operations for September 23rd.
The news of the permanent closure and liquidation of the platform triggered panic in the market, dragging the price of its native token, BMEX, down to $0.06.
🚨 What you should do if you’re a user?
-Withdraw funds: Secure your crypto before the deadline. -Close positions: Avoid automatic forced liquidations. -Look for alternatives: Migrate to other trusted derivatives exchanges.
Time is running out. Don’t leave your assets for the last day! 🕒