BitMEX Turns 11 – The Exchange that Taught Crypto How to Trade
[PRESS RELEASE – Mahe, Seychelles, November 24th, 2025]
Inventor of the perpetual swap says Bitcoin’s dominance continues to reshape world markets – merchants are positioning for one of the energetic cycles in years.
(*11*), the change that helped outline trendy crypto buying and selling, marks its 11-year anniversary at present with a daring celebration of the merchants who helped form the change and the business since 2014. As a part of the milestone, BitMEX is releasing “11 Insights from 11 Years of Experience,” a curated set of hard-earned classes from greater than a decade on the frontier of digital asset markets.
11 Years of being Big and Bold: How BitMEX Helped Build Modern Crypto Trading
BitMEX’s story is linked with the historical past of crypto itself. From inventing the world’s first perpetual swap and being the primary to introduce 100x leverage, to being one of many earliest advocates for Proof of Reserves, BitMEX has been constantly forward of the curve. As the market developed by way of cycles, narratives, and reinventions, BitMEX stayed grounded in its founding ideas: construct for merchants, not hype. Today, BitMEX continues pushing that mission ahead – increasing entry to skilled instruments together with Copy Trading, Trading Bots, and superior derivatives – while upholding its commitments to transparency, resilience, and technical excellence.
“BitMEX has weathered each cycle as a result of we constructed on ideas, not traits,” stated Stephan Lutz, CEO of BitMEX. “In my three years as CEO, I’ve watched the market reinvent itself repeatedly. Many exchanges have risen and fallen and we’ve seen many issues change, however BitMEX has all the time stayed true to its DNA. We’ve remained principled, resilient, and trader-first, and I’ve by no means been prouder to lead this firm. The previous few years have proven me that when the market will get loud, merchants return to the platforms that are regular, impartial, and battle-tested. I’m happy with what my crew has achieved and extremely enthusiastic about what comes subsequent.”
11 Insights from 11 Years: What a Decade on the Frontline Has Taught Us
BitMEX is celebrating its anniversary by consolidating a decade of arduous classes, market scars, and engineering breakthroughs into 11 key insights – a candid take a look at what actually issues in crypto buying and selling. The highlights embrace:
1. It’s all the time been about Bitcoin.
Every cycle reinforces the identical fact: Bitcoin continues to be the one asset to constantly surpass its earlier all-time highs, pushed by its immaculate financial design and decentralised origins.
2. Perpetual swaps are the best finance invention within the twenty first century.
Before BitMEX created the perpetual swap, crypto derivatives had been damaged toys. The perps solved the basic limitations of conventional futures and have become essentially the most traded product in crypto. Real innovation endures.
3. Security isn’t a product — it’s a observe. You can’t purchase belief. You have to earn it daily.
BitMEX’s 100% cold-storage, multi-signature withdrawal mannequin was gradual and inconvenient however that is strictly why it labored. After 11 years, the lesson remained the identical: safety isn’t only a characteristic however a philosophy backed by non-negotiable trade-offs.
4. Are you buying and selling the market or the home?
Many exchanges nonetheless run inside market-making desks – a structural battle that provides them visibility into buyer movement and liquidation ranges. BitMEX was constructed otherwise: no prop buying and selling or no inside desks. A impartial venue stays the one honest venue.
5. Crypto stays a fragmented market.
The crypto market isn’t a unified pool, it’s a patchwork of liquidity silos. As we highlighted in our Q1 2025 Derivatives Report, some exchanges listing tokens that peak on Day 1 and collapse instantly after. BitMEX’s itemizing technique constantly exhibits stronger, extra sustainable efficiency as a result of actual markets require actual liquidity.
6. The actual threat isn’t liquidation. It’s Auto-Deleveraging.
Liquidation is predictable; ADL isn’t. When markets crash sooner than the insurance coverage fund can reply, worthwhile merchants can nonetheless be force-closed. BitMEX’s ADL system doesn’t privilege any dealer within the queue, outcomes of years of engineering to guarantee equity below stress.
7. Fair Price Marking: The protect for perp merchants in opposition to market manipulation.
BitMEX pioneered the idea of Fair Price Marking, which protects merchants positions by anchoring Mark Prices to a hybrid composite index somewhat than a single supply. To transfer that worth, manipulators would want to crash the worldwide spot market, not only a single venue. It’s the last word defence for high-leverage merchants.
8. Leverage is freedom.
BitMEX launched 100x leverage however paired it with non-recourse liquidation, that means merchants can by no means lose greater than their posted collateral. It democratised entry to place sizes beforehand reserved for establishments, whereas demanding a degree of self-discipline and precision most merchants underestimate.
9. The Bitcoin 4-Year Cycle isn’t useless.
As outlined in our latest article, “Four-Year Cycles Aren’t Dead”, each cycle births a brand new “this time is totally different” narrative, however leverage, human psychology, and halving-driven provide constraints proceed to reset the market in predictable waves. The ETF period hasn’t modified the underlying plumbing, the cycle is alive and functioning precisely as designed.
10. Be cautious of the high-yield stablecoin entice.
Some “stablecoins” usually are not secure; somewhat, they’re leveraged yield schemes ready to implode. Terra/LUNA, xUSD, and USDX all adopted the identical sample: synthetic yields masked unsustainable mechanics. High yield is all the time a warning label, not a characteristic.
11. Don’t confuse the wrapper with the asset.
ETFs, digital asset treasuries, and structured wrappers supply new entry however include charges, incentives, and premium/low cost dynamics that typically trigger them to underperform the crypto they monitor. The wrapper is a enterprise; the asset is the asset. Traders should know the distinction.
Full report linked here.
About BitMEX
BitMEX is the OG crypto derivatives change, offering skilled crypto merchants with a platform that caters to their wants with low latency, deep crypto native and particularly BTC liquidity, and unmatched reliability.
Since its founding, no cryptocurrency has been misplaced by way of intrusion or hacking, permitting BitMEX customers to commerce safely within the data that their funds are safe. So too that they’ve entry to the merchandise and instruments they require to be worthwhile.
BitMEX was additionally one of many first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities information. The change continues to publish this information twice per week – proving assurance that they safely retailer and segregate the funds they’re entrusted with.
For extra info on BitMEX, customers can go to the BitMEX Blog or www.bitmex.com, and comply with Discord, Telegram and Twitter. For additional inquiries, please contact press@bitmex.com.
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