11 years of BitMEX exchange trading just ended... and almost nobody's talking about what it means. Withdrawals still open, they're not rugging anyone, but think about the timeline here: BitMEX launched in 2014 as THE derivatives exchange when Bitcoin was under $500. Now in 2026 it can't compete with the CEX field it basically created. That's not a failure story, that's a maturity story - the market outgrew the OGs that built it. Meanwhile Raiffeisen just opened crypto access to 18 million customers across 11 European markets through Bitpanda. Legacy finance isn't fighting crypto anymore, it's just quietly plugging into it while old-guard platforms fold. I keep seeing takes about this cycle being "over" or "different." It's not over, it's rotating. The infrastructure that got us here (2014-2020 era exchanges, early DeFi hacks-waiting-to-happen) is being replaced by stuff built for actual scale... and actual regulation. Which platform from THIS cycle do you think won't survive to see the next one?