BitMEX has notified users that it will cease operations on September 23, 2026. The platform has asked users to close their positions and withdraw their funds as soon as possible, and has also suspended new account registrations.
This derivatives exchange, co-founded by Arthur Hayes and others, was once known for its 100x leveraged perpetual contracts. This exit marks the official end of its 11-year operational cycle.
The platform will be completed in phases.
BitMEX stated that open positions will be gradually liquidated before the official closure. After August 26, users will no longer be able to open new positions, and the platform will continue with the liquidation arrangements.
- September 23: The platform officially ceased operations.
- August 26: Restricting users from opening new positions.
- Accounts that fail to withdraw funds in a timely manner will be charged a maintenance fee.
Reasons and background for withdrawal
BitMEX stated that the closure was a decision made after a business review by its parent company, HDR Global Trading Limited. The platform also noted that industry liquidity and trading activity have shifted to more competitive centralized and decentralized derivatives platforms.
BitMEX also stated that current reserve certificates show the platform's liabilities are sufficient to cover customer assets. The company also cautioned that if users do not withdraw their assets before the deadline, a monthly maintenance fee of $50 will be charged, or an annualized fee of 1%.
Former industry icon
Founded in 2014, BitMEX processed over $1 trillion in annual trading volume during its market expansion in 2019, at one point holding approximately 57% of the global crypto derivatives market share. It has also faced ongoing pressure in recent years due to regulatory issues.
