BitMEX

BitMEX, established in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, is a Seychelles-based exchange and custodian specializing in bitcoin derivatives trading. The platform introduced the perpetual swap in 2016, a derivative product that has become a staple in bitcoin trading. Over the years, BitMEX has maintained a strong security record, with no customer funds lost to intrusions or hacks. (thestreet.com)

BitMEX's commitment to transparency is evident through its regular publication of Proof of Reserves and Liabilities, ensuring users have insight into the platform's financial health. This practice, combined with a 100% KYC-compliant user base, underscores BitMEX's dedication to security and regulatory compliance. (thestreet.com)

In 2020, BitMEX faced legal challenges when the U.S. Commodity Futures Trading Commission (CFTC) charged the platform's founders with operating an unregistered trading platform and violating anti-money laundering regulations. The founders subsequently pleaded guilty and agreed to pay fines totaling $30 million. (cftc.gov)

Despite these challenges, BitMEX has continued to operate and innovate in the bitcoin derivatives market. The platform's resilience and commitment to security have solidified its position as a significant player in the industry.