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FinanceBitMEX to shut down operations on September 23, 2026
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BitMEX, the cryptocurrency exchange that pioneered perpetual swaps, announced it will cease operations on September 23, 2026. Co-founded by Arthur Hayes in 2014, the exchange lost market share to competitors and decentralized derivatives platforms. The shutdown follows years of regulatory enforcement actions, including charges for inadequate anti-money laundering measures. In late June 2026, both the CEO and CFO left the company. At its peak in 2019, BitMEX handled over $1 trillion in annual trading volume, capturing 57% of the global crypto derivatives market. The exchange is urging users to close positions and withdraw funds before the wind-down, which ends an 11-year run.
Source report
CryptoProwl Thu, July 23, 2026 at 6:03 AM PDT 1 min read
BitMEX, the cryptocurrency exchange that invented perpetual swaps (perps), is shutting down.
The exchange, co-founded by investor Arthur Hayes in 2014, announced that it will cease operations on Sept. 23 of this year. BitMEX is encouraging users to close their positions and withdraw their funds as soon as possible.
The decision to shut down comes after BitMEX lost perpetuals business to competing rivals and a new wave of decentralized derivatives markets that have sprung up in recent years. The wind-down ends an 11-year run for BitMEX, which pioneered modern digital asset derivatives trading.
Perpetual swaps, or perps, are a futures contract that lets people bet on the price of an asset without actually owning it. They have proved to be very popular with retail investors.
BitMEX is also shutting down after years of regulatory enforcement actions by authorities around the world, which accused it of illegal activity. At the end of June, both BitMEX's chief executive officer (CEO) and chief financial officer (CFO) left the company.
In 2020, BitMEX was alleged to have failed to implement adequate anti-money laundering measures and later pleaded guilty to the charges. Arthur Hayes left the company shortly after the U.S. brought criminal charges.
At its peak in 2019, BitMEX handled over $1 trillion U.S. in annual trading volume, capturing roughly 57% of the global crypto derivatives market.
BitMEX is a private company and its stock does not trade on a public exchange.
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Source
Yahoo FinanceWestern
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BitMEX Announces Shutdown Amid Lawsuit Alleging Theft and Insider Trading