BitMEX Shuts Down After 11-Year Run: Force-Closing Positions in September
BitMEX, the pioneering cryptocurrency derivatives exchange, has announced its permanent closure on September 23, 2026. The exchange, founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, will cease to operate after an 11-year run.
The timeline for BitMEX's shutdown is as follows: new registrations are halted immediately, with only reduce-only allowed on August 26; on September 23, all remaining open positions will be force-closed. Any assets not withdrawn by the deadline will incur a monthly maintenance fee of $50 or 1% per annum, whichever is greater.
The exchange's legacy is marked by its invention of the perpetual swap, now the most traded product in crypto. At its peak, BitMEX recorded 1 trillion dollars in annual trading volume; currently, it handles around $400,000 daily and has a market share of less than 0.01%.