BitMEX's shutdown has entered the execution phase. The company disclosed that the platform will delist a total of 65 derivative contracts and spot trading pairs in July, and will cease exchange services as planned on September 23, 2026. BitMEX attributed this round of delistings to insufficient overall trading interest.

The number of items removed from shelves increased significantly in July.

These 65 markets comprise three parts: 21 derivative contracts were delisted on July 2nd, 9 spot trading pairs were delisted on July 16th, and another 35 derivative contracts will be settled ahead of schedule on July 30th. In comparison, BitMEX only delisted 19 markets in total during the first half of 2026, indicating a significantly faster pace of processing in July.

The contracts removed in early July included those for Apple, Amazon, Avalanche, BMEX, Meta, and Near Protocol. Two weeks later, the platform removed UNI, APE, ATOM, AXS, BONK, LINK, POL, Sonic, and TRX from the spot market.

35 contracts were settled ahead of schedule on July 30.

BitMEX announced that it will pre-settle 35 derivative contracts at 12:00 UTC on July 30th, citing reasons including weak trading interest and the platform's impending closure. These products cover crypto assets, forex, commodities, and stock-related markets, including AAVEUSDT, COINUSDT, GOOGLUSDT, MSTRUSDT, NVDAUSDT, TSLAUSDT, and WTIUSDT.

Trading will continue until 04:00 UTC on July 30th. After that, the platform will stop calculating new funding rates, cancel unfilled orders, and settle accounts at the announced price. BitMEX states that it will not charge settlement fees, and contract profits and losses will be transferred to users' Bitcoin or USDT balances.

New positions will be suspended starting August 26.

The company disclosed that BitMEX will officially shut down its exchange services at 04:00 UTC on September 23. The platform operator, HDR Global Trading Limited, had previously stopped accepting new user registrations and attributed the shutdown to a strategic review of the company's business and the broader crypto industry.

As scheduled, starting at 04:00 UTC on August 26, users will no longer be able to open new positions, but can still reduce existing positions. BitMEX stated that during the shutdown transition period, the platform may force liquidation; if there are still open positions when the service ends, the system will also handle them uniformly.

Withdrawals are still possible after shutdown

BitMEX stated that users can still log in to their accounts after September 23 to view their balances, transaction records, and apply for withdrawals. The platform also reminded users to close their positions and withdraw their funds before the deadline. BMEX tokens staked through the platform have also been unstaking.

However, verified users who continue to leave their assets on the platform after the shutdown will be charged account fees. The fee is calculated monthly, at $50 USD or an annualized rate of 1%, whichever is higher. The platform also notes that during peak withdrawal periods, manual review and on-chain processing capabilities may cause delays in fund transfers.

The long-established platform founded in 2014 has come to an end.

Founded in 2014, BitMEX was initially known for its high-leverage crypto derivatives trading. The platform launched perpetual contracts in 2016, a product that has since been widely adopted by both centralized and decentralized exchanges.

Entering 2026, BitMEX underwent management changes. In June, the company appointed former Chief Operating Officer and General Counsel Peter Wilkinson as CEO, following the departure of several executives, including Stephan Lutz. Earlier, there were rumors in the market that BitMEX was seeking a sale.

BitMEX also stated that its assets exceed its customers' liabilities and directed users to view the reserve certificates and liabilities page. However, this statement comes from a unilateral disclosure by the platform.

Additional information:According to the current timeline, BitMEX will complete the early settlement of 35 contracts on July 30, stop opening new positions from August 26, and end its exchange services on September 23, after which only account inquiry and withdrawal functions will be retained.