BitMEX Legacy Establishes New Standards on Wall Street

The digital asset exchange BitMEX will cease all services in September, disappearing into history. BitMEX was the first in the world to devise a derivative product with no expiration date, known as 'perpetual futures,' and introduced a 'funding fee' system where long and short position holders exchange costs every eight hours. This exchange allowed for leverage of up to 100 times, bringing significant innovation to the derivatives market. BitMEX's culture of 'the market must never sleep' is spreading to Wall Street, with the Chicago Mercantile Exchange (CME) Group expanding digital asset futures and options trading to 24/7. The New York Stock Exchange (NYSE) is also building a 24-hour trading platform utilizing blockchain technology. As the boundaries between traditional finance and the digital asset market blur, Kraken offers perpetual futures linked to stocks, and Coinbase has introduced tokenized stock trading with dividend payments. BitMEX's innovations have fundamentally changed the structure of financial markets, and its legacy continues to influence Wall Street.