Two Years, No Deal: The Inside Story of How BitMEX Failed to Sell
TLDR
- BitMEX is shutting down on Sept. 23, 2026, after a two-year attempt to sell the exchange failed
- Potential buyers including Exodus walked away over founder ownership concerns and shrinking market share
- Co-founders Arthur Hayes, Ben Delo, and Samuel Reed still held majority equity despite stepping back in 2020
- The exchange had sought a valuation of around $1 billion but no formal deal was reached
- BitMEX now faces a lawsuit alleging it withheld trader collateral and engaged in insider trading
BitMEX, the crypto derivatives exchange that helped shape modern crypto trading, is closing its doors on Sept. 23, 2026. The shutdown follows a failed two-year attempt to find a buyer.
🚨BREAKING: BitMEX's $1 BILLION sale collapses as buyers walk away.
Potential buyers, including Exodus, reportedly walked away over founder control, BitMEX’s collapsing market share, and lingering legal and reputational concerns.
BitMEX once handled roughly 57% of global crypto… pic.twitter.com/rdCZZGslpj
- Coin Bureau (@coinbureau) August 8, 2026
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