BitMEX announces shutdown; BMEX token crashes ≈90% – Link

BitMEX, the exchange that pioneered 100x Bitcoin leverage nearly 12 years ago, said it will shut down as derivatives market share has shrunk across the industry. Its native BMEX token crashed approximately 90% on the news.

Matters because: The shutdown highlights continued consolidation among legacy derivatives exchanges and shows how exposed exchange-native tokens are to platform risk.
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