Arthur Hayes Speaks Out as BitMEX Shuts Down
Arthur Hayes posted a message thanking partners, employees, and clients, stating that it has been an amazing journey and expressing pride in what they have created and in responsibly shutting down.
He exclaimed "F*** traditional finance, f*** banks, Satoshi lives on."
This statement is driven by the exchange's shutdown event, with funds flowing to decentralized perpetual contract platforms, putting pressure on BitMEX holders, while the influence of early industry innovators continues.
Source: Public Information
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As a co-founder of BitMEX, Hayes established the platform in 2014 with partners and invented 100x leveraged perpetual contracts, which drove the explosion of crypto derivatives. He later stepped back from daily management due to regulatory pressure and is currently the CIO of Maelstrom Fund, continuing to support the crypto-native narrative.
The capital path reflects his consistent stance against traditional finance, emphasizing self-closure from early high-leverage products to the current shutdown, motivated by the desire to maintain the spirit of crypto decentralization and to draw a line with the banking system.
In contrast to forced liquidations after the FTX collapse and the passive exit paths of other centralized exchanges, BitMEX's choice to shut down voluntarily marks the end of the industry's transition from wild growth to regulatory elimination.
Essentially, this is a technological replacement, with the mechanism being the combined pressure of decentralized protocols and regulatory scrutiny squeezing the survival space of centralized derivatives exchanges, leading early innovators to take a bow.
ABAB News · Law of Cognition
Voluntary closure is more dignified than forced liquidation.
Anti-traditional finance is the fundamentalism of crypto.
Farewell speeches are often more genuine than entrepreneurial declarations.