CoinMeta Data: The crypto derivatives platform BitMEX announced on Wednesday the closure of its exchange operations, ending its 11-year history. Users can still log in to the platform's website and withdraw their balances, but deposits will no longer be accepted. BitMEX reminds users that fees will be charged on account balances, with the fees based on 1% of the asset's annualized value or a minimum of $50. The platform was co-founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed and helped pioneer perpetual contract trading. The closure of BitMEX marks a gradual decline in its influence in the crypto derivatives market, although it still allows users to withdraw their funds.