The inside story of how a hike in Hong Kong changed crypto trading forever

CryptoInfo Editorial Team · Published on July 29, 2026 at 13:53 · Updated on July 29, 2026 · 1 min read

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Key Takeaways

→A hike in Hong Kong contributed to the launch of BitMEX's perpetual future.
→BitMEX launched the first perpetual future in 2016 as a 'scrappy startup'.

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

A hike in Hong Kong played a role in the launch of a product that would change crypto trading forever, according to a report from CoinDesk. The story behind this pivotal moment involves BitMEX, a startup that launched the first perpetual future in 2016.

As recalled by a key figure, BitMEX was a 'scrappy startup' at the time of the launch, with a mindset of 'Just get it out there. If it was any good, the market would show us,'

This approach led to the introduction of a new financial instrument that would go on to influence the wider cryptocurrency market.

Source: CoinDesk ↗

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