- Crypto derivatives exchange Bitmex announced it will shut down on September 23, 2026, and has stopped new account registrations.
- The company cited a strategic review of its business and the wider crypto industry as the reason for the decision.
- BitMEX urged users to close positions and withdraw funds before the deadline, with trading continuing normally until August 26.
BitMEX, one of crypto’s oldest derivatives venues, announced Thursday it will cease operations on September 23, 2026 at 04:00 UTC. The platform’s operator, HDR Global Trading, pinned the decision on a “strategic review of the business and the broader industry,” according to an official blog post.
New account sign-ups have already been halted. The move, BitMEX said, “comes with a heavy heart.” Trading will continue as normal until August 26, when the exchange will bar new positions and allow traders only to reduce existing ones.
After that, BitMEX will force-close open positions to wind the market down orderly. Any positions left open at the deadline will be closed automatically, and users can still log in to withdraw balances after the shutdown, though idle funds will eventually incur a monthly fee.
Founded in 2014 by Arthur Hayes, Benjamin Delo, and Samuel Reed, BitMEX launched the perpetual swap contract in May 2016. This no-expiry futures contract offering up to 100x leverage became the industry standard, with crypto perps reaching volumes of $61.7 trillion in 2025, per CryptoQuant.
BitMEX noted it had gone over 11 years without losing user funds to a hack. However, its later history was rockier; BitMEX pleaded guilty in 2024 to violating the Bank Secrecy Act and paid $100 million in penalties. In March 2025, U.S. President Donald Trump pardoned Hayes and his co-founders, wiping out the criminal case. BitMEX told users to trade on “the many excellent platforms that have followed in our footsteps.”
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