BitMEX, Pioneer of Crypto Perpetual Swaps, Is Shutting Down

·1 views

BitMEX, the cryptocurrency exchange co-founded by Arthur Hayes in 2014, is ceasing operations. The platform was a landmark player in the crypto industry, credited with inventing the perpetual swap contract. BitMEX's introduction of 100x leverage perpetual swaps fundamentally transformed how traders engaged with global crypto markets. The exchange's closure marks the end of an era for one of the most influential early crypto trading platforms.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitcoin Holds Above $65,000 as Alphabet's AI Spending Boost Lifts Chip Stocks

Bitcoin continued trading above $65,000 amid positive sentiment in the chip sector. Alphabet reported stronger-than-expected revenue but also announced an increased forecast for AI-related spending. The higher spending outlook weighed on Alphabet's own stock in after-hours trading. However, for chipmakers, greater AI investment signals stronger future demand, providing a bullish outlook. Bitcoin, which tends to track movements in the chip sector, benefited from this positive read on chip stocks.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

BNY to Test Tokenized Treasuries on Private Blockchain Before Year-End

BNY Mellon is planning to pilot tokenized U.S. Treasuries on a private blockchain before the end of this year. The initiative aims to eliminate settlement delays that currently occur during weekends and off-hours in Treasury markets. The bank also intends to expand its settlement network to accommodate a broader range of international trading hours. By leveraging blockchain technology, BNY seeks to move closer to round-the-clock financial infrastructure for U.S. government securities.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Mirae Asset Group acquires controlling stake in South Korea's first crypto exchange Korbit

Korbit, South Korea's oldest cryptocurrency exchange, has become part of Mirae Asset Group following an acquisition deal. This marks the first time a traditional South Korean financial conglomerate has taken a controlling stake in a domestic crypto exchange. Mirae Asset Group is a major financial powerhouse with assets valued at approximately $1 trillion. The move signals growing institutional interest from conventional finance players in South Korea's cryptocurrency sector.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Cross-chain protocols lose $35M in coordinated attacks targeting key vulnerabilities

Multiple blockchain protocols, including Verus and B² Network, suffered a series of cyberattacks within hours of each other, resulting in combined losses of approximately $35 million. The attacks targeted Bitcoin and Ethereum-linked cross-chain systems rather than the underlying blockchains themselves. Attackers exploited weaknesses such as compromised private keys, upgrade permissions, and flawed validation checks. Notably, the breaches occurred without breaking the core cryptographic security of the underlying networks. The incidents highlight systemic vulnerabilities in cross-chain infrastructure that can be exploited independently of base-layer protections.

0 comments Read more at CoinDesk