Ten Years of Zero Losses: BitMEX Celebrates a Decade of Setting the Standard in Crypto Derivatives Trading
BitMEX, a pioneer in crypto derivatives trading, is celebrating a remarkable milestone: ten years of business operations without any loss of client funds due to intrusion or hacking, while delivering excitement and profitability to traders through professional crypto derivatives trading.
Since its founding in 2014, BitMEX has become one of the most established exchanges in the industry, setting industry standards in terms of security, transparency, neutrality, accessibility, and user empowerment. The platform has always been the first choice for professional traders, relying on strong security and product optimization, adhering to innovative thinking, and is committed to building a trustless crypto derivatives market. One of BitMEXs proudest achievements is its flawless security record to date - no customer funds have been lost, an achievement that no one has matched to this day. In addition, BitMEXs pioneering Perpetual Swap contract has become the most traded derivative structure in the crypto market, while the platforms 100% KYC user base and bi-weekly release of Proof of Reserves and Liabilities have set a new benchmark for transparency and legitimacy in crypto exchanges.
BitMEX’s unique operating model is shaped by its focus on servicing professional-grade crypto derivatives trading. BitMEX’s unwavering commitment to user fund security and neutrality has enabled it to maintain its reputation in the face of industry challenges and consistently maintain its position as a trusted, industry-leading platform.
BitMEX’s 10-year success formula
BitMEX’s ten-year journey has not been without its challenges—from dealing with legal pressures to adapting to the dynamics of the crypto market. However, as co-founder Samuel Reed mentioned in a 2018 article, “The first rule of running a crypto exchange has always been ‘never lose your Bitcoin.’” This unwavering principle has guided BitMEX through the evolution of the market, with security, transparency, and neutrality always being its core values. By strategically committing to these values, the company has been able to grow steadily, remain resilient amid industry turmoil, and maintain a trusted position among global crypto exchanges.
Stephan Lutz, CEO of BitMEX, said: BitMEX does not try to be an all-around blockchain technology player, but focuses on providing practical and innovative solutions for derivatives traders. The principles of security, transparency, reliability and technical performance run through everything we do, and these principles have been verified in major challenges faced by the industry, such as the collapse of FTX and TERRA and LUNA. Although we are focused on being the best in the field of crypto derivatives trading, our approach has also played an important role in shaping the entire industry. We are honored to celebrate our tenth anniversary with our traders, whose trust has been crucial to our growth.
BitMEX’s Top 10 Achievements in its 10th Anniversary
2014 – Launched several industry-first innovations, including offering the first correctly margined, centrally cleared crypto derivatives, the first crypto public testnet exchange, the first crypto single-page app, and the first cold wallet-only exchange.
2015 – XBT futures with 50x leverage were first launched, bringing groundbreaking leverage opportunities to traders.
2016 – Perpetual Swap was created and became the core derivative product in the crypto market.
2016 – Established the world’s largest crypto insurance fund, with approximately $2.3 billion and still growing.
2017 – BitMEX Research is established to provide trusted market analysis within the industry.
2019 – Sets a new all-time record for Bitcoin (BTC) trading volume, with $16 billion traded in 24 hours.
2020 – Achieve 100% KYC-certified user base, becoming the first crypto exchange to achieve this goal.
2021 – Release of Proof of Reserves and Liabilities, driving transparency on crypto exchanges.
2023 – Optimize trading engine to achieve 95% latency reduction.
2024 – BitMEX options are launched, expanding the derivatives product line.
Future Outlook for BitMEX
As BitMEX enters the next decade, the companys future roadmap will focus on deepening user engagement and improving trading opportunities. BitMEX will launch Multi-Asset Margining to improve capital efficiency and is committed to increasing market liquidity to ensure that users can still enjoy a smooth and efficient trading experience in volatile markets. Building on the success of Trading Bots, BitMEX will also launch a copy trading feature that allows users to easily copy successful trading strategies.
To kick off these new initiatives, BitMEX will launch its largest trading competition to date on November 25, with a $1 million prize pool, designed to attract new and existing users to participate and kick off the next decade of crypto. Join BitMEX and witness the next decade of crypto innovation together.
About BitMEX
BitMEX is a pioneer in crypto derivatives exchanges, dedicated to providing professional crypto traders with low latency, deep crypto-native liquidity, particularly Bitcoin liquidity, with unparalleled reliability.
Since the company was founded, BitMEX has never lost any cryptocurrency due to intrusion or hacking, ensuring that BitMEX users have the security of their funds when trading and have access to a variety of products and tools to make a profit.
BitMEX was also one of the first exchanges to publish on-chain Proof of Reserves and Proof of Liabilities data, and continues to publish such data every two weeks to prove to users that its funds are securely stored and isolated.
For more information about BitMEX, please visit the BitMEX blog or www.bitmex.com , follow us on Telegram and Twitter . For further inquiries, please contact press@bitmex.com.
