BitMEX Delists XBTUSD, Marking End of Perpetual Futures Pioneer

BitMEX has officially delisted its XBTUSD contract, a product that launched in 2016 and established the perpetual futures model now dominating the cryptocurrency industry. The exchange, which is set to shut down on September 23, pioneered features such as no-expiry contracts and funding rates. Perpetual contracts currently account for over 75% of total crypto trading volume, with traditional financial institutions now exploring similar formats.