BitMEX token crashes 90% as exchange announces shutdown
BitMEX’s BMEX token plunged about 90% after the exchange announced plans to shut down, ending nearly 12 years in business as its Bitcoin futures market share shrank.
[Update, 15:18 UTC, July 23 – Adds comment from cofounder beginning in sixth paragraph.]
BitMEX’s utility token lost almost all of its value after the exchange announced Thursday it would wind down operations.
The BitMEX (BMEX) token plunged 90% to as low as $0.002 from $0.06, according to CoinGecko data. It traded at $0.0063 at the time of writing.
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