Just In: Former Binance Futures Head's Perp DEX StandX to Shut Down, Scrap Token Launch

StandX, a decentralized perpetual futures exchange founded by former Binance Futures head Aaron Gong and other industry veterans, announced it will shut down operations and abandon plans to launch a platform token following a business and market review.

Since its November 2025 mainnet launch, StandX says it has served over 237,000 users and reached peak TVL of more than $200 million. Yield distributions will end on October 15, while perpetual trading will become reduce-only on October 20. All remaining positions will be closed by January 15, 2027, with DUSD redemptions and asset withdrawals closing January 31. The team plans a one-time DUSD airdrop funded by remaining revenue and additional team contributions. — link