BitMEX to shut down after 11 years in crypto derivatives
The exchange, co-founded by Arthur Hayes, introduced 100x leverage perpetual swaps and will close on September 23.
Leeloo The First
BitMEX, the cryptocurrency derivatives exchange co-founded by Arthur Hayes, is set to shut down on September 23 at 04:00 UTC after more than a decade of operation.
The exchange, owned by HDR Global Trading Limited, will cease operations after 11 years. It was founded in 2014 and introduced the 100x leverage perpetual swap, a product that redefined the global crypto derivatives market.
BitMEX has already halted new user sign-ups. The decision to wind down follows a strategic review, according to a company statement.
BitMEX introduced the 100x leverage perpetual swap, which redefined the global crypto market.
BitMEX operated for 11 years before its scheduled shutdown.
The shutdown date, set for September 23 at 04:00 UTC, has been reported by multiple sources, though some specify the year as 2026, while one source does not mention the year.
Economics Correspondent · Talivio News
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Sources
- — BitMEX to shut down after 11 years in crypto derivatives (opens in a new window)
- — BitMEX, the exchange that invented perps, is shutting down (opens in a new window)
- — BitMEX to Close on September 23, Halts New Sign-Ups (opens in a new window)
- — BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange (opens in a new window)