BitMEX to Wind Down Operations, Setting September 23 Closure Date
The crypto derivatives exchange that pioneered the perpetual swap says it will shut down after more than a decade, with users told to withdraw funds before September 23.
AfroEuropa Newsroom
AfroEuropa desk
BitMEX, one of the earliest and most influential crypto derivatives exchanges, has said it will shut down after more than 11 years of operation.
The company said it would carry out an orderly wind-down after examining several strategic alternatives, including a sale, a merger, partnerships, and restructuring, according to BitKE. None of those options produced a way to keep the platform viable in what the exchange described as an increasingly competitive market.
BitMEX said customers would be able to withdraw their funds in full and that user assets would remain secure throughout the process. The exchange stopped registering new users immediately and plans to phase out trading services over the coming months, with existing positions continuing to run during the transition and customers being given advance notice of key deadlines.
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