BitMEX will close on 23 Sept at 04:00UTC, ending an 11-year run for the exchange that invented the perpetual swap and once set the price of Bitcoin for the whole market. New account registrations stopped immediately. The board of HDR Global Trading, the Seychelles-incorporated owner, took the decision after a strategic review of the business and the wider crypto industry, saying it came "with a heavy heart". The closure lands four months after President Donald Trump pardoned both the company and its founders, wiping a $100mn criminal fine, and three weeks after the chief executive, finance chief and growth chief departed at once while the business was reported to be seeking a buyer. No buyer emerged.
BREAKING BitMEX To Shut Down 11 Years After Inventing the Perpetual Swap
23 July 2026 - 10:17 CEST
By Stu Clelland
Trading continues as normal until 26 Aug at 04:00UTC, when BitMEX imposes reduce-only limits and traders can shrink positions but not open them. Anything still open at the closing time is force closed. Users can log in afterwards to withdraw, but KYC-verified customers who leave assets behind will pay $50 or 1% a year, whichever is greater, charged monthly and subject to increase. The exchange says all assets exceed liabilities and warned users to be "vigilant for phishing attempts" using the news.
More details to follow.
