BitMEX Announces Shutdown
BitMEX, one of the cryptocurrency industry’s earliest derivatives exchanges, will shut down after owner and operator HDR Global Trading Limited completed a strategic review of the business.
The company announced that trading operations will end on Sept. 23, 2026. Customers have been advised to close open positions and withdraw their funds before the platform closes.
BitMEX reassured its users that their assets will stay secure and accessible throughout the transition period.
BitMEX Helped Shape Crypto Derivatives Trading
The closure will be the end of an important chapter in crypto history. BitMEX was founded in 2014 by Arthur Hayes, Benjamin Delo and Samuel Reed and became one of the world’s most influential cryptocurrency derivatives platforms. The exchange played a major role in popularizing leveraged crypto trading.
In May of 2016, BitMEX launched its XBTUSD perpetual swap, which allowed traders to speculate on Bitcoin’s price with leverage without having to manage a contract expiration date. Perpetual swaps subsequently became one of the most widely traded products in the cryptocurrency market.
BitMEX also boasted an impressive security record. It even stated that no customer cryptocurrency had been lost to hacking during its 11 years of operation.
However, the company faced a lot of regulatory challenges during its history. In 2021, BitMEX entities agreed to pay a $100 million civil penalty to settle charges brought by the Commodity Futures Trading Commission and the Financial Crimes Enforcement Network. HDR Global Trading was later fined another $100 million in January of 2025 after pleading guilty to violating the Bank Secrecy Act by failing to maintain an adequate anti-money-laundering program.
Announcement from the CFTC
Traders now have approximately two months to settle their accounts, close positions and transfer remaining assets away from the platform.
