BitMEX to Shut Down All Operations on September 23 After 11 Years

BitMEX announced the closure of its exchange, which will take effect on 23 September 2026 at 04:00:00 UTC. The exchange was co-founded by Arthur Hayes, and the decision follows a strategic review by owner HDR Global Trading Limited. With immediate effect, the platform has stopped all new account registrations.Why is BitMEX shutting down?Following a strategic review of the business and the broader crypto industry, the board of HDR Global Trading Limited, owner and operator of BitMEX, decided to close the exchange. The company did not cite financial difficulties or regulatory action as the reason, describing the move instead as the outcome of a broader strategic assessment. BitMEX also did not disclose what the review found, or whether the sale process that began last year produced a bidder.BitMEX was one of the pioneers of crypto derivatives trading and helped popularize perpetual swap contracts — a product that lets traders speculate on asset prices without expiration dates. The team noted it invented the 100x leverage perpetual swap, now the most traded product in the crypto industry.What happens to my funds?BitMEX told users their assets remain fully safe and under their control ...