BitMEX, Pioneer of Crypto Perps, Closes Down Just as the Market Heats Up
BitMEX, the derivative exchange that revolutionised crypto trading with the invention of the perpetual swap, has announced it will shut down its platform on 23 September 2026.
In a statement released today (Thursday), HDR Global Trading Limited, the exchange's owner and operator, confirmed that new account registrations have ceased with immediate effect.
Dear BitMEX Users,Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC.The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations… pic.twitter.com/oWuqlh547f
— BitMEX (@BitMEX) July 23, 2026
Crypto Perps Are Heating Up Onshore
The decision follows a strategic review of the business and the broader cryptocurrency landscape, bringing a formal end to one of the industry's most influential pioneers.
BitMEX popularised crypto perpetual swaps, or crypto perps, during the 2017-18 market surge. Operating largely from its offshore base, the platform allowed speculative traders to trade Bitcoin against the US dollar with up to 100x leverage.
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