Arthur Hayes-Backed Exchange BitMEX Unveils Plans To Permanently Shut Down
Key Insights:
- BitMEX will permanently close its crypto exchange on September 23 after a strategic business review.
- Customer funds remain safe as users are asked to close positions and withdraw assets before the deadline.
- The crypto derivatives exchange reported $115.66 million in daily trading volume before announcing its closure.
BitMEX will close its exchange on September 23 after more than 11 years in business. The company said the move follows a strategic review and asked users to close open positions and withdraw their funds early while assuring customers that their assets remain safe.
BitMEX To End Exchange Operations After 11 Years
BitMEX will shut down its exchange on September 23, bringing an end to more than a decade of operations in the crypto market. The company said its owner and operator, HDR Global Trading Limited, decided after carrying out a strategic review of the business.
Trading on the platform will officially end at 04:00 UTC on September 23. The exchange has also stopped accepting new user registrations as it begins the process of closing the business.
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