Woofun AI reports that Changpeng Zhao, founder of Binance, issued a tribute to BitMEX, crediting it as the first cryptocurrency platform to introduce 100x leverage contracts in 2014. He noted the exchange implemented robust safeguards, including restricting deposits to Bitcoin, operating on a single chain, limiting withdrawals to once daily, and utilizing multi-signature wallets to prevent hacks. Zhao added that BitMEX's four founders pleaded guilty to violating bank secrecy laws one month before trial, each receiving a $10 million fine and house arrest, though none served prison time. Despite these outcomes, the company ceased operations citing regulatory pressures.