BitMEX to Shut Down on Sept. 23 After 11 Years

BitMEX, co-founded by Arthur Hayes, became one of the cryptocurrency industry’s best-known derivatives exchanges and helped popularize perpetual swaps, or “perps.” Its closure after 11 years marks the end of a platform closely associated with the rise of leveraged crypto trading, while underscoring the competitive, regulatory and commercial pressures reshaping the digital-asset exchange business.

Parent company HDR Global Trading said BitMEX will permanently cease operations on Sept. 23, 2026, following a strategic review of the business and the broader crypto industry. The exchange has already halted all new-user registrations and instructed existing customers to close positions and withdraw funds before the deadline. BitMEX’s platform token plunged about 90% after the shutdown announcement, highlighting the immediate market impact of the decision.