BitMex: Becoming a Global Powerhouse Facing Obstacles to Scaling

From 2014 to 2017, BitMEX rose to become one of the biggest crypto investment platforms in the world. In a detailed blog post on May 23, 2019, BitMEX narrated their story of becoming an industry force and the upgrades they put out for the platform.

The King of Crypto Derivatives

BitMEX was launched in 2014 by Arthur Hayes, an ex-Citi derivatives trader and banker after he lost his job and fell in love with the concept of Bitcoin.

In 2017, BitMEX’s volume grew by 129x, and this growth continued to spill over into 2018 and 2019. The all-time USD trading record was $8 billion in a single day in July 2018 up until May 11, 2019, when the platform recorded $11 billion in trading volume across all contracts.

The XBTUSD perpetual swap contract, which BitMEX is known for, is the most…

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