Another Top Crypto Exchange Shuts Down. What Does This Mean For the Future of the Crypto Market?
A few years ago, this would have been an earthquake for the crypto sector.
Overview
Some inventions outlive their inventors. BitMEX pioneered the perpetual swap, a financial derivative that allows people to make a bet on an asset's price while using up to 100 times leverage and while being unconstrained by any expiring contracts. Perpetuals went on to become crypto's most copied (and most popular) financial instrument.
However, on July 23, BitMEX said it will close for good on Sept. 23. The reasons for that closure signal a lot about the next few years of crypto.
Image source: Getty Images.
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Originally published at www.fool.com.
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