BitMEX closure follows over 11 years in crypto, Sumit Gupta notes

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BitMEX closes after 11 years in crypto

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BitMEX closure follows over 11 years in crypto, Sumit Gupta notes — BitMEX closes after 11 years in crypto

Sumit Gupta, co-founder & CEO at CoinDCX, reflected on BitMEX's impact after the crypto derivatives platform decided to close following more than 11 years in operation.

He underscored BitMEX's role in introducing the perpetual swap, especially highlighting the 2016 launch of its XBTUSD product as a significant contribution to the development of crypto markets.

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Gupta previously said his team at CoinDCX tracks crypto regulations in India and follows Europe's push for unified MiCA rules. He also announced an upgrade to CoinDCX's systematic investment plan, reporting a 105% rise in daily SIP creation since launch. Both developments reflect the company's ongoing efforts to monitor global trends and expand product offerings.

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