BitMEX to close exchange on September 23 after buyer search fails

BitMEX’s parent company announced that it will shut its exchange on September 23, 2026, ending its 11-year run. The platform popularized the perpetual swap and 100x leverage. 

BitMEX’s account holders now have two months to pull their money out.

Why is BitMEX closing after 11 years?

BitMEX’s parent company, HDR Global Trading Limited, said its board has made the decision to permanently shut down the exchange after reviewing the business and the state of the wider crypto market. New account sign-ups stopped the same day the notice went out, and the final closure is scheduled for September 23, 2026, ending its 11-year run. 

BitMEX launched in 2014 under founders Arthur Hayes, Ben Delo, and Samuel Reed. It built its name on a Bitcoin perpetual contract offering up to 100x leverage, a product it invented in May 2016 that has since become the most traded product in crypto.

However, things began going bad for the exchange in October 2020 when the U.S. Commodity Futures Trading Commission (CFTC) charged BitMEX with illegally offering commodity derivatives and failing to implement anti-money-laundering procedures. 

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