BitMEX spent two years seeking buyer before shutdown: Report

BitMEX reportedly spent two years seeking a buyer before deciding to close the crypto derivatives exchange, as founder control, declining activity and legal baggage deterred potential acquirers. Summary BitMEX discussed a sale with multiple prospective buyers, including competing exchanges and Exodus. Founder control, shrinking revenue and reputation concerns reportedly complicated the negotiations. The exchange was reportedly seeking a valuation of about $1 billion during the process. BitMEX will restrict trading on Aug. 26 and close the exchange on Sept. 23. BitMEX held sale talks for two years BitMEX explored a sale with several potential acquirers over approximately two years but failed to secure an agreement, CoinDesk reported, citing a person familiar with the private discussions. Potential buyers included rival cryptocurrency exchanges and payment and wallet company Exodus. Broadhaven Capital Partners reportedly advised the Seychelles-based exchange during the process. crypto.news first reported BitMEX’s search for a buyer in February 2025, although the investment bank had reportedly joined the process in late 2024. BitMEX was said to be seeking a valuation of approximately ...